Child Tax Credit The Tax Cuts and Jobs Act of 2017(TCJA) increased the amount of the Child Tax Credit and threshold amounts for phaseouts. For tax years 2018 through 2025, the Child Tax Credit is increased from $1,000 to $2,000 per qualifying child; however, this Child Tax Credit is available only if the taxpayer provides a valid Social Security Number for the qualifying child on the tax return. Threshold amounts at which the Child Tax Credit phaseout have been increased substantially. The phaseout amounts for tax years 2018 through 2025 are: • $400,000 MAGI for married taxpayers filing jointly • $200,000 MAGI for all other filing statuses These threshold amounts are not indexed for inflation. The amount of the Child Tax Credit that is refundable is increased to $1,400 per qualifying child for tax year 2018. Earned income threshold amounts used to determine the refundable portion have been lowered from $3,000 to $2,500. #childtaxcredit #taxseason2020 #taxpro #maximumrefund #refundablecredit #dedication #child #parent #mom #entrepreneur #momtrepreneur #taxes #sbts #garyveechallenge #tialopez #tylermoore #stephensbros https://www.instagram.com/p/B7MBIhZFagf/?igshid=1m9wwxe6pqqna