Child Tax Credit Phase Out. The child tax credit (ctc) is designed to give an income boost to the parents or guardians of children and other dependents. The child tax credit can significantly reduce your tax bill if you meet all seven requirements:
Remember, with turbotax online tax filing we'll ask you simple questions and fill out the right forms for you.
The current child tax credit is $2,000 per qualifying child. Remember, with turbotax online tax filing we'll ask you simple questions and fill out the right forms for you. Many of my clients find the tax breaks for children confusing, and understandably so. Note that though the eligibility the size of the credit would start to phase out for single people earning more than $75,000 a year, heads of household earning more than $112,500.
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