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What’s New. Election to use 2019 earned income to figure 2020 additional child tax credit. Recent legislation provided an election to use your 2019 earned income to figure your 2020 additional child tax credit. For more information, see the Instructions for Form 8812.
Publication 972, Child Tax Credit, is obsolete; we are not issuing it for tax year 2021. We revised Schedule 8812 (Form 1040), Credit for Qualifying Children and Other Dependents, to be the sole source for figuring and reporting the child tax credit (CTC) and credit for other dependents (ODC).
26 wrz 2022 · Publication 972 was a document published by the Internal Revenue Service (IRS) that provided guidance on determining the exact amount of the child tax credit that taxpayers can claim. It was used...
6 lip 2021 · The amount of the credit depends on your income, filing status, and number of qualifying children. For related CTC information for all other tax years, refer to the tax return instructions and forms for each tax year along with Publication 972, Child Tax Credit and Credit for Other Dependents.
20 mar 2024 · Publication 972 provided clarity on the amount of credit a taxpayer could claim. For the 2020 tax year, the maximum credit for a qualifying child was $2,000. This cap has remained consistent since 2018 when the IRS doubled the credit available on 2017 tax returns.
Child tax credit allows taxpayers to claim a tax credit of up to $2,000 per child. Taxpayers who claim the child tax credit, but do not qualify for the full amount, may be able to also take the refundable additional child tax credit of up to $1,500 (per eligible child) by completing Schedule 8812, Additional Child Tax Credit.
Publication 972, issued by the Internal Revenue Service (IRS), was a helpful resource for taxpayers claiming the Child Tax Credit (CTC) on their tax returns. It explained the qualifications for the credit, how to calculate the amount, and how to claim it on your tax forms.
