Enrolled Agent Exam [Part 1] 41, Child Tax Credit and Additional Child Tax Credit

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The Child Tax Credit for 2025 increases to $2,200 per child under the One Big Beautiful Bill. • How to apply the "CARES" mnemonic to determine if a child is a qualifying child for the credit. • How the credit is reduced by $50 for every $1,000 of income over the $200,000 (Single) or $400,000 (MFJ) thresholds. • The rules for the refundable Additional Child Tax Credit (ACTC), which is capped at $1,700 per child. • That a taxpayer must have at least $2,500 in earned income to claim the refundable portion of the credit. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep