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Deductions are calculated as part of your taxable income (you'll find taxable income on line 43 on your form 1040). They are subtracted from gross income, including wages, interest and dividends,...

In 2022, the credit is only 70% refundable, meaning that if no tax bill is owed, families can collect a maximum of only $1,400 as part of their refunds.Finally — in case you haven't noticed the...

For each $1,000 of income above the threshold, your available child tax credit is reduced by $50. Beginning in 2018, the phaseout of the credit begins with $200,000 in income ($400,000 for married...

Simplified filing allows more families — including those with little to no income — to claim tax benefits such as the Child Tax Credit and past stimulus payments. Households that haven’t claimed...