DavidD66
Employee Tax Expert

Deductions & credits

If you have kids, you might qualify for the Child Tax Credit, which can reduce your tax bill by up to $2,000 per qualifying child. The 2017 Tax Cuts and Jobs Act (aka "tax reform") doubled the per-child credit amount from $1,000 in 2017 and prior tax years.

 

For additional information and qualifications see:  What is the Child Tax Credit?

 

Also, the American Rescue Plan, which was just passed and is expected to be signed into law, increases the credit to $3,000.

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