Will the US amend the 2024 Additional Child Tax Credit to depend on prior years' income by the end of January?
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On January 19, 2024, the US House Ways and Means Committee approved H.R.7024 - Tax Relief for American Families and Workers Act of 2024. This bill makes four changes to the Child Tax Credit (CTC), including allowing filers to use the prior year's earnings to calculate the Additional Child Tax Credit (the refundable component) beginning in tax year 2024 (looking back to 2023 earnings).
This will resolve TRUE if the US enacts legislation to allow filers to use the prior year's earnings in computing the 2024 Additional Child Tax Credit by the end of January 2024.
This is identical to this question, but for tax year 2024:
This question is managed and resolved by Manifold.
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