The House has passed legislation that would require taxpayers to provide a Social Security number to claim the Child Tax Credit in an effort to discourage fraud, as well as adjust the amount of the credit for inflation.

The bill, H.R. 4936, the Child Tax Credit Improvement Act, would index for inflation the amount of the refundable tax credit, which is currently set at $1,000. The legislation was introduced by Rep. Sam Johnson, R-Texas.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access