You can claim up to $2,000 per kid from the child tax credit, but that may drop soon

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You can claim up to $2,000 per kid from the child tax credit, but that may drop soon

If Congress doesn't address the soon-expiring expanded child tax credit, parents could see a higher tax bill in the coming years.

Telemundo Tampa (49)

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Many parents with children under the age of 17 can claim the child tax credit of up to $2,000 per child for fiscal year 2024. But that could change after 2025, affecting the statements filed in 2027. This is because the 2017 Employment and Tax Reduction Act enacted by President Donald Trump during his first term will expire at the end of 2025. Before SSJA, the maximum credit that families could claim was $1,000 per qualified dependent.