Here’s Why Families Will Get A Lot More On Their Tax Return This Year
IRS Commissioner Chuck Rettig recently said, “As we approach the 2019 tax-filing season, I want to remind taxpayers to take advantage of this valuable tax credit if they are eligible to claim it. Tax reform changed the tax code significantly and doubling the Child Tax Credit is an example of how the changes impact taxpayers.”
Yes, the child tax credit has doubled. The only exception is if you're married and filing jointly and make over $400,000 or married and filling separately and make over $200,000. The Motley Fool, a financial website, explains: "If they qualify, the Child Tax Credit is worth as much as $2,000 per qualifying child. And, you can claim the credit for every qualifying dependent child you have. If you have three children under 17, for example, you could get a Child Tax Credit of as much as $6,000."