The child tax credit will increase from $1,000 to $2,000. The income level will also increase -- married filers may now make up to $400,000 and still claim the credit. The previous threshold was $110,000. In addition to this increase, the act also allows for a $500 credit for those who are caring for a non-child dependent -- those families who are caring for elderly parents.
This site offers information designed for educational purposes only. The information on this Website is not intended to be comprehensive, nor does it constitute advice or our recommendation in any way. We attempt to ensure that the content is current and accurate but we do not guarantee its currency and accuracy. You should carry out your own research and/or seek your own advice before acting or relying on any of the information on this Website.