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What changed?
- The new law increases the child tax credit from $1,000 to $2,000.
- Eligibility factors for the credit have not changed. As in past years, a taxpayer can claim the credit if all of these apply:
• the child was younger than 17 at the end of the tax year
• the taxpayer claims the child as a dependent
• the child lives with the taxpayer for at least six months of the year