Child Tax Credit

House, Senate tax chiefs announce deal on business deductions, low-income credits

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House, Senate tax chiefs announce deal on business deductions, low-income credits

Top tax writers in Congress announced a deal Tuesday morning to beef up the child tax credit (CTC) and reinstate business deductions that were taken away to pay for the reduction of the corporate tax rate in the 2017 Tax Cuts and Jobs Act. The CTC expansion would increase the maximum credit per child to … Read more

Conservatives call for big business tax cuts while White House backs child tax credit

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Conservatives call for big business tax cuts while White House backs child tax credit

Tax cuts for big business are once again facing off against the expanded child tax credit (CTC) in the yearly December fight to make last-minute changes to the tax code. Republicans want to see deductions extended for research and development costs, fixed capital investments like machinery and equipment, as well as interest expense. The White … Read more