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When filing taxes for 2023, families can claim this tax credit worth up to $2,000 for each qualifying child under 17 years old. The new calculation would multiply the parent’s income by 15% as well as by the family’s number of children.
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That's an important change because it means families.
The New Rules Would Increase The Maximum Refundable Amount From $1,600 Per Child.
Enter the annual income (ctc amount):
The New Calculation Would Multiply The Parent's Income By 15% As Well As By The Family's Number Of Children.
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That Means Eligible Taxpayers Could Receive An.
The new rules would increase the maximum refundable amount from $1,600 per child.
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If the bill is enacted, it would significantly increase the child tax credit.
