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Beginning with 2018 tax returns, families will be able to get more money under the newly revised Child Tax Credit. The Tax Cuts and Jobs Act (TCJA) (the tax reform legislation passed in December 2017) doubled the maximum Child Tax Credit, boosted income limits to be able to claim the credit, and revised the identification number requirement for 2018 and subsequent years. The new law also created a second smaller credit of up to $500 per dependent aimed at taxpayers supporting older children and other relatives who do not qualify for the Child Tax Credit. Higher income limits mean more families are now eligible for the Child Tax Credit. The credit begins to phase out at $200,000 of modified adjusted gross income, or $400,000 for married Read More...