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,...What is the new child tax credit?
The child tax credit (CTC) provides a credit of up to $1,000 per child under age 17. If the CTC exceeds taxes owed, families may receive some or all of the credit as a refund, known as the additional child tax credit (ACTC) or refundable CTC.