There have been many tax changes in the US recently, including the increase of the payroll tax. However, I haven't heard about the significant child tax credit. Will the child tax credit stay at its 2012 amount or be phased out?
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I checked the IRS page, but I didn't see anything about 2013.– C. RossJan 15, 2013 at 14:29
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Extended for five years. I wrote an article Over The Cliff and Back, in which I highlight the 2013 changes agreed to in Washington New Years evening. It remains at $1000 per child, but same as in prior years, phases out based on income.
The details of H.R. 8, the American Taxpayer Relief Act (ATRA) of 2012, runs a full 157 pages. As a PDF, it's friendly to searching on specific words to find what you seek.
answered Jan 15, 2013 at 16:19
JTP - Apologise to Monica♦JTP - Apologise to Monica
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2Surprisingly the act is actually readable and relatively easy to understand if you know what you're looking for. I'm not used to that with legalese. Jan 15, 2013 at 18:25