Asked by Sydnee Frakes on Jul 01, 2024
Verified
The child tax credit of $1,000 per child is available for taxpayers with children under the age of 16.
Child Tax Credit
A tax credit available to taxpayers for each qualifying dependent child, aimed at reducing their tax liability.
Under The Age
A phrase used to denote individuals who are younger than a specific age threshold, often in the context of eligibility for benefits or responsibilities.
- Identify the qualifications needed to claim the child tax credit and the credit for expenses related to child and dependent care.
Verified Answer
KM
Katherine Montey7 days ago
Final Answer :
False
Explanation :
The child tax credit was increased to $3,600 for children under 6 and $3,000 for children ages 6 through 17 as part of the American Rescue Plan for the 2021 tax year. The original statement may refer to older tax laws, but the amounts and age criteria have changed.
Learning Objectives
- Identify the qualifications needed to claim the child tax credit and the credit for expenses related to child and dependent care.
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