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Form 8812 online Philadelphia Pennsylvania: What You Should Know
How the Child Tax Credit Works The Child Tax Credit is a refundable tax credit for eligible dependents under age 21. Dependents eligible for the credit include: your children (including adopted children); foster children; or children under age 18 who have not met the age requirements for dependent status. The 2023 credit is 1,000. To claim the Child Tax Credit, you must file Form 1040X, U.S. Individual Income Tax Return for Tax Year 2018. When claiming a child tax credit, you can claim up to 1,000 per eligible child. You can increase the amount due by claiming additional children for your filing status or filing status change. The child tax credit phase-out is phased down from the date that you file your tax return to the actual date that you receive the refund if the tax you owe was greater than the credit. The Phase-out Percentage (P.L. 2018-17) is as follows: If you and your spouse have the same filing status, the credit phase-out starts at 3,000 and progresses to 4,000 for each person after that. If either you or your spouse has a modified adjusted gross income of less than 11,000 for the year, then the Phase-out Percentage is as follows: If either you or your spouse has an adjusted gross income of 11,000 or more, the Phase-out Percentage is as follows: Tax Year Phase-out Percentage (P.L.
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