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Answer: No, not all families with children get the higher child tax credit for 2021, but most do
July 29th, 2022
Answer: No, not all families with children get the higher child tax credit for 2021, but most do Qualifying for the Higher Credit Amount The enhanced tax break begins to phase out at modified AGIs of $75,000 on single returns, $112,500 on head-of-household returns and $150,000 on joint returns. The amount of the credit is reduced by $50 for each $1,000 (or fraction thereof) of modified AGI over the applicable threshold amount. Note that this phaseout is limited to the…