Distribution of the combined tax benefits of the child tax credit (CTC), child and dependent care tax credit (CDCTC), and the earned income tax credit...
2005, Option 4: Fully Refundable Child and Dependent Care Tax Credit, Distribution of Federal Tax Change by Cash Income Class
October 6, 2005
The foreign tax credit prevents double-taxation of foreign-source income. In tax year 2021, only 7% of individual filers claimed the foreign tax credit, while 62% of taxpayers with adjusted gross income over $1 million claimed it.
The Tax Cuts and Jobs Act of 2018 doubled the maximum child tax credit from $1,000 to $2,000. But about 29 million children under age 17 with at least one working parent will miss out on the full increase because their families earn too little in income or owe too little in taxes. This factsheet
This Tax Fact explores the child tax credits refundability thresholds since its inception. Currently, the CTC is a $1,000-per-child credit that is partially refundable for households earning more than $3,000. This Tax Fact explores the distribution of credits when the refundability threshold rises
Distribution of federal tax change from allowing the Child Tax Credit, Earned Income Tax Credit, and Child and Dependent Care Tax Credit to revert to pre-EGTRRA tax law, by cash income level, 2013.
Distribution of federal tax change from allowing the Child Tax Credit, Earned Income Tax Credit, and Child and Dependent Care Tax Credit to revert to pre-EGTRRA tax law, by cash income percentile 2013.
The COVID-19 pandemic exposed vast social and economic inequities in the US, which prompted unprecedented relief policies that, for one year, brought child poverty to its lowest levels in decades. However, as the economy enters a new phase of robust job growth, high inflation, and ongoing economic
Distribution of federal tax change from allowing the Child Tax Credit, Earned Income Tax Credit, and Child and Dependent Care Tax Credit to revert to pre-EGTRRA tax law but keeping the CTC and EITC allowable against the AMT, by cash income level, 2013.
Distribution of federal tax change from allowing the Child Tax Credit, Earned Income Tax Credit, and Child and Dependent Care Tax Credit to revert to pre-EGTRRA tax law but keeping the CTC and EITC allowable against the AMT, by cash income percentile, 2013.
Our guest this week is Jacob Bastian, assistant professor of economics at Rutgers University. He will discuss his research on the expanded child tax credit,...
Senators Mike Lee (R-UT) and Marco Rubio (R-FL) made a big splash with their “ Economic Growth and Family Fairness Tax Plan ” last month, which among other things would create a new partially refundable $2,500 per child tax credit (CTC). The plan is ambitious and expensive, but it may hurt many low