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How Much is the Child Tax Credit?

Here is a breakdown of everything you need to know about the Child Tax Credit and Additional Child Tax Credit

How Much do You Get Back in Taxes for a Child?

How Much do You Get Back in Taxes for a Child?

The child tax credit for 2020, 2021, allows you to get back up to $2000 per child in taxes. This is a tax credit, which means it reduces your tax bill dollar-for-dollar, which makes it highly valuable for all families.

To be eligible to claim the child tax credit, your child or dependent must first pass all of the eligibility tests to qualify.… Read the rest

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What are the Earned Income Credit Qualifications?

Earned Income Credit Qualifications

The earned income credit is one of the most valuable credits for those with low or moderate incomes. To claim it you will need to file an income tax return, even if you don’t necessarily owe anything in taxes.

There are a number of qualifications involved. So, if you plan to claim the Earned Income Credit, here’s what you need to know.

What is the Earned Income Credit (EIC)?

The EIC is a type of tax credit available to taxpayers earning either a low or moderate salary.… Read the rest