Family Tax Credits
2018 – 11/19 The Tax Cuts and Jobs Act revised family tax credits for 2018. To help taxpayers prepare for the 2019 filing season, the IRS recently issued a reminder about the changes. The law doubled the maximum child tax credit to $2,000 and raised the income limits to claim the credit. A child must also have a valid Social Security number before the due date of the tax return, including extensions. A second credit of up to $500 per dependent is aimed at taxpayers supporting older children and other relatives who don’t qualify for the child tax credit.