CTC phase-outs in 2021 explained
There are a couple of big changes set to happen to the child tax credit this year.
In 2021, couples qualified for the full payments if they made less than $150,000 and single parents who file as heads of households needed to make under $112,500.
But every $1,000 over those thresholds would reduce your child tax credit benefit by $50.
Under that phase-out, the credits wouldn’t fall below $2,000 unless married couples’ incomes hit $400,000, or $200,000 for all other filing statuses.
Above those income limits, the $50 decrease resumes for each $1,000 over.
This could eventually disqualify you from claiming the child tax credit in 2021.
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