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child tax credit in 2021 with new bill passed

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  • #16
    Originally posted by justlearning View Post
    appreciate the link and sorry to be a stickler: the funny thing is the article you sent has a link they use to cite that we still get $2k/child. I clicked on the link which took me to some accountant journal. I read it twice and I don't see anywhere in there where it says we'll still get $2k/child as long as AGI is under $400k. So they cited a source but the source cited doesn't say that!

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    • #17
      There was another article in kiplinger from March 6, by Joy Taylor , I am not able to post the link .

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      • #18
        Originally posted by uksho View Post
        There was another article in kiplinger from March 6, by Joy Taylor , I am not able to post the link .
        I believe this is it.
        Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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        • #19
          Awesome! Yes, a pretty reliable source and it says this is a tax credit expansion rather than a replacement. Thank you! happy I won't be losing the credit in 2021

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          • #20
            Originally posted by JBME View Post
            I realize it's not quite law yet but I've researched around on this and think this part of the COVID bill will survive: the child tax credit. We're a family with a modified AGI between $200-$400k. For 2020 we're going to claim the child tax credit which is big for us because it's $2k per child and we have 3 and we fall below $400k to qualify. I'm very confused about the latest bill that passed the senate and is going to be approved by the House and Biden will sign. Not interested in the politics but interested in figuring out if we'll continue to get this credit in 2021. As I understand it the credit has increased even more but HH AGI cannot be more than $200k. We're over that. Does the current bill replace the old child tax credit? Basically trying to see if we're going to lose that big tax credit.

            no the bill adds 1000 or 1600 to the 2000. We still get ours.

            I actually read the bill. I was that tweaked having 4 kids lol

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            • #21
              If I didn't work so hard, I'd qualify. I need to stop taking extra call

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              • #22
                Originally posted by Ekanive23 View Post


                no the bill adds 1000 or 1600 to the 2000. We still get ours.

                I actually read the bill. I was that tweaked having 4 kids lol
                Really? Awesome. I’m a bit surprised because I’m sure it’s over 1000 pages. Who has time to read that? And I’m sure I underestimated how many pages it is

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                • #23
                  Originally posted by JBME View Post

                  Really? Awesome. I’m a bit surprised because I’m sure it’s over 1000 pages. Who has time to read that? And I’m sure I underestimated how many pages it is
                  It’s not hard to find and I did it while laying on the floor waiting for my kid to pass out in his bed. He won’t let me leave until he’s asleep. So I did it without control find.

                  the table of contents was very very very helpful. Read 5 pages in total excluding my trudge through the table of contents

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