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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.
Assuming you meet all seven requirements for the Child Tax Credit, you can cut your tax bill by as much as $1,000 per child. You may have heard that under the new tax bill â this gets even better for families. The child tax credit expands to $2,000 per child â and has a refundable portion up to $1,400.