"2024 Child Tax Credit: Navigating Confusion and Timing for Taxpayers"

Lawmakers are working on an expansion of the child tax credit for 2024, potentially increasing the maximum refundable amount per child. Eligibility requirements include having a modified adjusted gross income of $200,000 or less, the child being under 17 on Dec. 31, 2023, and meeting other criteria. It's uncertain whether the proposed changes will become law, so some experts suggest waiting to file taxes, while others recommend filing as soon as ready. Various federal and state tax credits and breaks are available for families, including the child and dependent care credit and state-specific tax credits.