Child Tax Credit: What to Know for 2022 and 2023

The 2017 tax overhaul doubled the utmost little one tax credit score to $2,000 from $1,000 for every little one in a household beneath age 17 at year-end. It applies for each 2022 and 2023.

The credit score—at the moment up to $2,000 for every little one in a household beneath age 17 at year-end—is a dollar-for-dollar discount in taxes that many households with kids can declare. It begins to part out at $400,000 of adjusted gross earnings for married joint filers and $200,000 for single filers.