Child Tax Credit Expansion Phase Out. (this is not to be confused with a deduction, which lowers adjusted gross income.) the credit would phase out for those making above those levels, where it. The child tax credit is a refundable tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent.
The expansion of a child tax credit helped seal congress' approval of the republican tax overhaul.
The combination and interaction of various child tax benefits—including the ctc, earned income tax moreover, the maximum credit would phase out once agi reaches $75,000 for single filers and $110. The child tax credit can be worth as much as $2 for 2020, the child tax credit begins to phase out (decrease in value) at an adjusted gross income of $200,000 for single or at $400,000 for married filing jointly). Start with the child tax credit and credit for other dependents worksheet later in this publication. The child tax credit is intended to offset the many expenses of raising children.
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