The maximum Child Tax Credit is $2,000 per dependent child 17 and younger. There are no longer any advance payments.
For taxpayers who claim other dependents, not eligible for the Child Tax Credit, you may be eligible for a $500 credit for each dependent.
You can take full advantage of these credits if your income (specifically, your modified adjusted gross income) is less than $200,000 for single filers, $400,000 for married filing jointly filers. The credit begins to phase out above those thresholds.
