Tax Guide

Get answers to all your questions about taxes, personal finance, insurance and more.

Does the Child Tax Credit change in the new GOP tax bill?

The Republican tax bill, the Tax Cuts and Jobs Act, doubles the Child Tax Credit (CTC) from $1,000 to $2,000 for qualifying children under 17, with $1,400 of the credit being refundable. The income threshold is also raised from $75,000 to $200,000 for single parents and from $110,000 to $400,000 for married couples filing jointly.

In addition, a new non-refundable $500 credit can be claimed for dependents who are 17 or older and for non-child dependents such as adult family members with disabilities or elderly parents.

These changes go into effect beginning with the 2018 tax year.

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