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The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income. Here are 10 important facts from the IRS about this credit and how it may benefit your family.
If you make too much money, you wonât get any credit at all. The child tax credit starts to be reduced when income reaches the following levels: 1  $55,000 for married couples filing separately, 2  $75,000 for single, head of household, and qualifying widow(er) filers, and. 3  $110,000 for married couples filing jointly.