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Was the Child Tax Credit cut in half?

I have been hearing that it was lowered from $1000 to $500 per child. Is this correct? Please someone inform me. Thank you.

 
iluvmykidsxoxo

Asked by iluvmykidsxoxo at 2:16 PM on Jan. 30, 2011 in Money & Work

Level 20 (8,727 Credits)
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Answers (4)
  • No. I only had one child who qualified this year for it and I got $1000
    gemgem

    Answer by gemgem at 2:18 PM on Jan. 30, 2011

  • I think before Congress extended the Bush Tax Cuts, the child credit would have gone down to $500, but since they passed all the new tax laws back in December, it stayed the same.
    Journey311

    Answer by Journey311 at 2:30 PM on Jan. 30, 2011

  • Not as far as I know we got back the 1000
    bhoward87

    Answer by bhoward87 at 2:18 PM on Jan. 30, 2011

  • No we got back 1000 per child, and my accountant said nothing about it, but did inform us that an $800 credit for something else would not be there next year!
    Musicmom80

    Answer by Musicmom80 at 2:25 PM on Jan. 30, 2011