Silver is a very popular car color overall, but women prefer silver over men, according to a recent study of the used car market. Mitsubishi Motors Corp President Osamu Masuko poses next to the company's silver concept car GC-PHEV at the 43rd Tokyo Motor Show November 20, 2013. Photo: Reuters.
The phase out for the Child Tax Credit begins at a modified adjusted gross income for joint filers at $110,000, single filers and head of household at $75,000, and $55,000 for married filing separately.he phase out for the total Child Tax Credit (i.e. , the credit amount times the number of qualifying children) is $50 for each $1,000 (or part thereof) of modified adjusted gross income above the thresholds.
Here are 10 important facts from the IRS about this credit and how it may benefit your family. Amount-With the Child Tax Credit, you may be able to reduce your federal income tax by up to $1,000 for each qualifying child under the age of 17.Qualification-A qualifying child for this credit is someone who meets the qualifying criteria of six tests: age, relationship, support, dependent, citizenship, and residence.esidence Test-The child must have lived with you for more than half of 2010. There are some exceptions to the residence test, which can be found in IRS Publication 972, Child Tax Credit.