[20171219]IF10793_儿童税收抵免和会议报告给H.R.1.pdf

https:/crsreports.congress.gov December 19, 2017The Child Tax Credit and the Conference Report to H.R. 1The Credit for 2017 In 2017, the child tax credit (CTC) allows taxpayers to reduce their federal income tax liability by up to $1,000 per qualifying child. A family with four qualifying children, for example, is eligible for a credit of up to $4,000. If the value of the credit exceeds the amount of tax a family owes, the family may be eligible to receive a full or partial refund of the difference. The total refund amount is calculated as 15% (the refundability rate) of earnings that exceed $3,000 (the refundability threshold), up to the maximum amount of the credit. The refundable portion of the child tax credit (the portion that exceeds a taxpayers income tax liability) is referred to as the additional child tax credit (ACTC). Low- and moderate-income taxpayers may receive all or some of the child tax credit as the ACTC. The credit phases out for higher-income taxpayers. For married couples filing jointly, the credit begins to phase out when income exceeds $110,000; for most other taxpayers, this threshold is $75,000. It takes $20,000 of income above each threshold to phase out