TITLE 26. INTERNAL REVENUE CODE § 24. Child tax credit [Caution: For the inflation adjustment of certain items in this section, see the Revenue Procedure which appears as 26 USCS § 1 note.]., 26 USCS § 24

Summary

(a) Allowance of credit. There shall be allowed as a credit against the tax imposed by this chapter [26 USCS §§ 1 et seq.] for the taxable year with respect to each qualifying child of the taxpayer for which the taxpayer is allowed a deduction under section 151 [26 USCS § 151] an amount equal to $1,000.

(b) Limitations.

(1) Limitation based on adjusted gross income. The amount of the credit allowable under subsection (a) shall be reduced (but not below zero) by $50 for each $1,000 (or fraction thereof) by which the taxpayer’s modified adjusted gross income exceeds the threshold amount. For purposes of the preceding sentence, the term “modified adjusted gross income” means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933 [26 USCS § 911, 931, or 933].

(2) Threshold amount. For purposes of paragraph (1), the term “threshold amount” means—

(A) $110,000 in the case of a joint return,

(B) $75,000 in the case of an individual who is not married, ...