|child tax credit income limits 2021 irs||1.87||0.4||7161||37|
The Child Tax Credit is given to taxpayers for each qualifying dependent child who is under the age of 17 at the end of the tax year. The tax legislation passed in December 2017 doubled the credit to $2,000 per child and made much of it refundable.How do I calculate the child tax credit?
Determine the amount of the tax credit. Multiply the number of qualifying dependents by $1,000 to get the maximum credit amount. For example, if you have three qualifying dependents, the maximum child tax credit is $3,000. If your Modified Adjusted Gross Income (MAGI) exceeds $110,000 for married filing jointly,...