Dr. Friday walks through key Child Tax Credit rules, including income phaseouts and age requirements. She also notes that the child must have a Social Security number and U.S. citizenship.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
Child tax credit, wonderful thing. It’s now permanent, so we’re getting $2,000 per child.
The child must be a U.S. citizen and must have a Social Security number. Other than that, you don’t have many other limitations besides income.
Income for a single person, anything over $200,000 will phase you out. A married couple, anything over $400,000 will phase you out.
That’s what you need to know, and make sure your child is under the age of 17. If they’re older than that, they will not qualify for that credit.
If you need help, or you just want to know more about who I am or what I can do to help you, pick up the phone and give us a call.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.