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January 30, 2024
Question

I have two dependents under 6 which should be $7,200 but instead it says I will only get $4,000 in tax credits. Why?

  • January 30, 2024
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1 reply

DoninGA
Employee
January 30, 2024

The Child Tax Credit for tax year 2023 is $2,000 for a child under the age of 17.

An increase in the child tax was only available for tax year 2021.  After 2021 the tax code reverted back to the original child tax credit of $2,000