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The Internal Revenue Service (IRS) confirmed an increase in the Child Tax Credit (CTC) for tax year 2027. The update will raise the maximum amount families can claim per eligible child and also change the refundable portion of the benefit.
The new amounts will begin applying to income earned in 2027 and will be reflected in tax returns filed in 2028.
How much is the Child Tax Credit increasing to, according to the IRS?
The CTC will rise to US$2,300 for each eligible child in tax year 2027. This is an increase of US$100 from the current maximum of US$2,200 set for 2026.
In addition, the refundable portion of the benefit, the Additional Child Tax Credit (ACTC) will also increase by US$100 and will reach US$1,800 per eligible child.
When do these Child Tax Credit increases take effect?
The new amounts will take effect on Jan. 1, 2027 and will apply to income earned during that tax year.
Families will therefore be able to claim the new amounts when they file their federal tax returns in 2028 for tax year 2027.
What are the current income limits to claim the Child Tax Credit?
The IRS is keeping the income thresholds that determine who can claim the full Child Tax Credit. The limits are:
- $200,000 a year: for single filers and other taxpayers who do not file jointly.
- $400,000 a year: for married couples filing jointly.
Families above these income levels can still qualify for a partial credit. The benefit begins to phase out when modified adjusted gross income exceeds the set thresholds.