Statements (38)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:administeredBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:appliesTo |
gptkb:United_States
qualifying children under age 17 |
| gptkbp:canBeNonRefundable |
yes
|
| gptkbp:canBeRefundable |
yes
|
| gptkbp:canBeSplitBetweenParents |
no
|
| gptkbp:claimedBy |
gptkb:Form_1040
taxpayers with qualifying children |
| gptkbp:compatibleWith |
nonresident aliens
children without Social Security Number |
| gptkbp:eligibility |
child must live with taxpayer for more than half the year
taxpayer must provide more than half of child’s support child must not file a joint return with spouse (except for refund claim) dependent child must be a U.S. citizen, national, or resident alien |
| gptkbp:expansion |
gptkb:American_Rescue_Plan_Act_of_2021
gptkb:Tax_Cuts_and_Jobs_Act_of_2017 |
| https://www.w3.org/2000/01/rdf-schema#label |
Child Tax Credit
|
| gptkbp:improves |
gptkb:COVID-19_relief_legislation_(temporarily_in_2021)
|
| gptkbp:introducedIn |
1997
|
| gptkbp:maximumCreditPerChild |
$2,000
|
| gptkbp:maximumCreditPerChild2021 |
$3,000 for children ages 6-17
$3,600 for children under 6 |
| gptkbp:monthlyAdvancePayments |
provided in 2021 under American Rescue Plan
|
| gptkbp:phasesOutAt |
$200,000 for single filers
$400,000 for married filing jointly |
| gptkbp:purpose |
reduce tax liability for families with children
|
| gptkbp:reduces |
other credits such as foreign tax credit
|
| gptkbp:refundablePortion |
up to $1,600 (2023)
|
| gptkbp:relatedTo |
gptkb:Additional_Child_Tax_Credit
gptkb:Earned_Income_Tax_Credit |
| gptkbp:requires |
child must have Social Security Number
|
| gptkbp:subject |
income limits
phase-out rules recapture if overpaid |
| gptkbp:website |
https://www.irs.gov/credits-deductions/child-tax-credit
|
| gptkbp:bfsParent |
gptkb:IRS_Form_8862
|
| gptkbp:bfsLayer |
5
|