Friday, July 25, 2014

Tax Credit and Immigrants




“Child Tax Credit Improvement Act of 2014 - Amends the Internal Revenue Code, with respect to the child tax credit, to: (1) increase from $110,00 to $150,000 ($75,000 for individual taxpayers and married taxpayers filing separately) the threshold amount applicable to married couples fiing joint tax returns above which such tax credit is reduced, and (2) allow an inflation adjustment to the threshold amounts and the $1,000 credit amount beginning after 2014.”- CRS summery

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