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The United States federal child tax credit (CTC) is a partially-refundable [a] tax credit for parents with dependent children. It provides $2,000 in tax relief per qualifying child, with up to $1,400 of that refundable (subject to a refundability threshold, phase-in and phase-out [b] ). In 2021, following the passage of the American Rescue Plan Act of 2021, it was temporarily raised to $3,600 ...
Eligible families that didn’t receive any advance child tax credit payments during 2021 can still claim the full amount of the child tax credit on their federal tax return.
The child tax credit is based off of your 2020 taxes, meaning that when you go to file your 2021 returns, an income change could set off a tax bill. If this is the case, you will be required to ...
The first installment payment of the advance child tax credit is scheduled to hit bank accounts on July 15. The payment will serve as the first of six monthly payments of $250 or $300, depending on...
Eligible families who didn’t receive any advance child tax credit payments during 2021 can still claim the full amount of the child tax credit on their federal tax return.
The maximum credit in 2021 is $3,600 for children under 6 and $3,000 for children between 6 and 17. Previously, the maximum tax credit was $2,000 per child under 17.
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