Child tax credit
The maximum child tax credit increased from $1,000 to $2,000 per qualifying child.
Taxpayers whose income was too high to benefit from the Child Tax Credit in prior years may now find they qualify.
The credit now phases out at $400,000 for couples and $200,000 for singles, compared with 2017 amounts of $110,000 for couples and $75,000 for singles.
Additional child tax credit
The maximum additional child tax credit increased from $1,000 to $1,400.
The ACTC is a refundable credit for taxpayers who owe little or no federal income tax.
"new Credit for other dependents"
• There’s a new $500 credit that can benefit taxpayers who support other dependents. • The taxpayer will claim the credit when filing a tax return. • For purposes of this new credit, other dependents include qualifying children or qualifying relatives, such as a college student or an elderly parent.
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information provided by the Internal Revenue Service