Citation :
The Child Tax Credit in its current form pays up to $2,000 per child under age 17. Up to $1,400 of the credit can get lumped onto a tax refund while the other $600 can only be used to subtract from a household’s tax bill. A taxpayer claiming the credit needs to have at least $2,500 in earned income to unlock the money that can be applied in a refund. The credit starts phasing out for people making $200,000 and couples making $400,000. Under the freshly-passed bill, the Child Tax Credit now pays up to $3,600 for children under age 6. It also pays up to $3,000 for children above that age. It also will now pay for 17-year-olds. The $2,500 earned income threshold is erased and the credit becomes completely refundable in the bill. Income eligibility rules for the credit mirror stimulus check rules
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