The child tax credit is worth up to $1,000 per child under the age of 17. In order to qualify for the child tax credit, the taxpayer must be able to claim the child as a dependent. Be aware that there are additional criteria for the child tax credit; not all dependents will qualify. For some taxpayers, utilizing the child tax credit can reduce their federal income tax liability to zero.
Assuming your dependent qualifies for the Child Tax Credit, that credit of $1,000 is reduced, or phased out, if your Adjusted Gross Income (AGI) exceeds $110,000 for Married and $75,000 for single. That phase-out will reduce the credit to 0 depending on how much over the limit your AGI is.
by VAUGHAN018 years ago
WHAT IF MY TAX CREDIT IS MORE THAN MY TAXES, DO I GET A REFUND??
by david newgent5 years ago
does foundation repair qualify for home tax deductions
by ptosis4 months ago
If you are on Medicare, are you worried that your coverage will be reduced or eliminated?The GOP is selling this Tax Plan saying that it will ignite the economy, which will reduce unemployment, which will reduce the...
by luckyandgoing8 years ago
can an undocumented alien qualify to win a lottery and is how much is the tax imposedif an undocumented alien or an illegal immigrant wins a jackpot,will he be able to claim it without any trouble with the immigration?
by culverwalker7 years ago
my gross income is $19399, how do i figure out income tax befoe credits
by klschs8 years ago
my work hours were just reduced from 40 to 25 per week. Do I qualify for partial unemployment?
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.