Child Tax Credit

(redirected from Children's tax credit)

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.
References in periodicals archive ?
Income from ISAs is ignored when calculating entitlements to Working Tax Credit or Children's Tax Credit.
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.
A: Child Tax Credits, combined with Working Tax Credits, replaced existing Working Families' Tax Credit, Disabled Person's Tax Credit and Children's Tax Credit.
The existing Working Families Tax Credit has been scrapped, along with the Children's Tax Credit.
From April Gordon Brown has announced that the new Child Tax Credit will replace the existing Children's Tax Credit.
The Child Tax Credit brings together the various strands of support for families with children - the child elements in Income Support, Jobseeker's Allowance, Working Families' Tax Credit (WFTC), Disabled Person's Tax Credit (DPTC) and the current Children's Tax Credit - into one streamlined system.
The Child Tax Credit streamlines various strands of support for families with children - ranging from the child benefit section of Income Support, Jobseeker's Allowance, Working Families' Tax Credit, Disabled Person's Tax Credit and the Children's Tax Credit.
One in four families currently receives the working families tax credit, while 85 per cent benefit from the children's tax credit, introduced last April.
The working families' tax credit, disabled persons' tax credit and children's tax credit will also be dealt with at the mobile office, which will be open between 10am and 3pm.
Nine out of 10 families are expected to benefit from Labour's scheme, which begins in April and will replace the Working Families' Tax Credit and Children's Tax Credit.
Leigh, 30, and Kevin, 52, were just over the pounds 40,000 annual income threshold to claim the old children's tax credit introduced in 2001.

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