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The child tax credit is also subject to income limitations based on your AGI. For tax year 2020, the income limit phaseout begins at $400,000 for married filing jointly and $200,000 for single or head of household. Learn more and figure your estimated credit on the IRS website.What is the additional child tax credit?
The Additional Child Tax Credit was the refundable portion of the Child Tax Credit . It could be claimed by families who owe the IRS less than their qualified Child Tax Credit amount. Since the Child Tax Credit was non-refundable, the Additional Child Tax Credit refunded the unused portion... Nov 18 2019What does the child tax credit mean?
The child tax credit is an income tax credit of $2,000 per eligible child for American taxpayers. Eligible children are legal dependents under the age of 17 who are U.S. citizens. This tax credit is phased out for high-income families, as it was intended to help low- to middle-income workers.