Child Tax Credit for 2021

URI: https://gptkb.org/entity/Child_Tax_Credit_for_2021

GPTKB entity

Statements (34)

Predicate	Object
gptkbp:instanceOf	gptkb:tax_law
gptkbp:administeredBy	gptkb:Internal_Revenue_Service
gptkbp:advancePaymentsTotal	up to 50% of total credit
gptkbp:ageLimitForChild	17
gptkbp:claimOnForm	gptkb:IRS_Form_1040
gptkbp:claimOnSchedule	gptkb:Schedule_8812
gptkbp:eligibility	child must be claimed as dependent child must be related to taxpayer child must be under age 18 at end of 2021 child must have valid Social Security Number taxpayer must have main home in US for more than half the year child must not provide more than half of own support
gptkbp:enactedBy	gptkb:American_Rescue_Plan_Act_of_2021
gptkbp:fiscalYear	2021
gptkbp:fullyRefundable	true
https://www.w3.org/2000/01/rdf-schema#label	Child Tax Credit for 2021
gptkbp:incomePhaseoutHeadOfHousehold	$112,500
gptkbp:incomePhaseoutMarriedJoint	$150,000
gptkbp:incomePhaseoutSingle	$75,000
gptkbp:maximumCreditPerChild	$3,600
gptkbp:maximumCreditPerChildAge6to17	$3,000
gptkbp:maximumCreditPerChildUnder6	$3,600
gptkbp:monthlyAdvancePayments	true
gptkbp:monthlyPaymentAmountPerChildAge6to17	$250
gptkbp:monthlyPaymentAmountPerChildUnder6	$300
gptkbp:monthlyPaymentPeriod	July 2021 to December 2021
gptkbp:noncitizenEligibility	child must be US citizen, US national, or US resident alien
gptkbp:phaseoutRate	$50 per $1,000 over threshold
gptkbp:purpose	reduce tax liability for families with children
gptkbp:taxpayerIdentificationRequirement	taxpayer must have valid taxpayer identification number
gptkbp:temporaryExpansion	true
gptkbp:validOn	December 31, 2021
gptkbp:bfsParent	gptkb:Section_9601_(Child_Tax_Credit)
gptkbp:bfsLayer	6