This article has been updated for the 2020 and 2021 calendar and tax years. As part of the Tax Cut & Jobs Act (tax reform), there were notable changes to the Child Tax Credit. Those changes impact the 2020 and 2021 tax year years and beyond. This article will cover all of the Child Tax Credit basics that you should know. What is the Child Tax Credit? The Child Tax Credit is a significant tax credit for those with qualified dependent children under age 17 (more on qualifications in a bit). A tax credit is a subtraction from actual taxes
The post The Child Tax Credit (Updated for 2020...
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[Read the rest of the story at 20somethingfinance.com]