What is a child tax credit?

child tax credit

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 1,342 total views The Child Tax Credit is a tax benefit that is paid to every eligible dependent child of American taxpayers. Designed to help taxpayers support their families, the credit has been expanded significantly thanks to the U.S. Emergency Plan Act of 2021. It is estimated that the new rules will reduce the number of American children living in poverty by 5%. The Child tax credit income limit taxpayer’ tax liability on a dollar-for-dollar basis. Recent legislation has raised the maximum annual credit per child (under $ 18) from $…

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