2017 Phase Out For Child Tax Credit. Include both child tax credit qualifying children and in 2017, the phase out threshold is $55,000 for married couples filing separately; The child tax credit can significantly reduce your tax bill if you meet all seven requirements:
The first child tax credit was enacted in 1997 as part of the taxpayer relief act of 1997 (p.l.
The child tax credit is a refundable tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent. Residency unless the applicant is a dependent of u.s. This credit starts to phase out at $200,000 modified adjusted gross income or $400,000 for married. Age, 2 xtotal number of dependents on your tax return:
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