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Child Tax Credit |
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Child Tax Credit In U.S. tax law, a direct dollar-for-dollar reduction in one's tax liability per eligible child in the household. Depending on the modified AGI of the person(s) filing, the child tax credit is generally $1,000 per child. See also: Tax credit. Child Tax Credit A credit of up to $1,000 per eligible child under age 17 at the end of the tax year. The credit may be refundable for taxpayers with three or more children eligible for the credit and for those whose earned income exceeds a specified amount that is adjusted for inflation each year. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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They and others have been left struggling to make ends meet since a change to the system in April, which saw Child Tax Credit and Working Tax Credit replace Working Families' Tax Credit, Disabled Person's Tax Credit and Children's Tax Credit. Many will have seen the adverts about the Children's Tax Credit. Under the previous system, the old-style Children's Tax Credit was paid directly through wages. |
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