Child Tax Credit Increases Under the Tax Cuts and Jobs Act

The child tax credit increases under the Tax Cuts and Jobs Act. Currently, a taxpayer can claim a child tax credit of up to $1,000 per qualifying child under age 17. For tax years after Dec. 31, 2017, and before Jan. 1, 2026, the credit is raised to $2,000.

The income levels at which the credit phases out are increased to $400,000 for married taxpayers filing jointly ($200,000 for all other taxpayers). The refundable amount of the credit is increased to $1,400 per qualifying child. A $500 nonrefundable credit is also provided for certain nonchild dependents.