Daily Archives November 30, 2018

New Child Tax Credit Amounts

The IRS posted Tax Reform Tax Tip 2018-182 concerning child tax credits.  The Tax Tip provided the following information:  The new law increases the child tax credit from $1,000 to $2,000. Eligibility for the credit has not changed. As in past years, the credit applies if all of these apply: the child is younger than 17 at the end of the tax year, December 31, 2018 the taxpayer claims the child as a dependent the child lives with the taxpayer for at least six months of the year Credit refunds. The credit is refundable, now up to $1,400. If a
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