$2000 Max Child Tax Credit 2023 – File Your Tax Return!

Child Tax Credit is reportedly increased up to $2000 per qualified dependent. All a taxpayer needs to do to claim it is to file a tax return.

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Up to $2000 per qualified child

Every family wants a tax credit, and it’s a piece of good news that the child tax credit for 2023 has now increased to $ 2000 per dependent, according to the Internal Revenue Service (IRS) Spokesperson Stacy Engel. As reported by Western Iowa Today, she said that the increased child tax credit, reduced tax liability, and will increase refunds.  Additionally, the child tax credit is not refundable but, will reduce your tax on your return. Many tax filers who do not usually file a tax return can qualify for the increased child tax credit 2023. This is an additional cash after they file their tax return, according to Engel.

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Who qualifies for the child tax credit?

Any family members under the age of 17 years old that you’ve been providing and living with you mostly can qualify for the child tax credit. A taxpayer just needs to claim the dependent on the tax return.

A qualified taxpayer could claim the maximum amount for each qualifying child if the total income for the year 2023 is less than $200,000 or if the joint return, is $400,000. If income is higher than the said amounts, a partial credit could still be claimed.

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