What is the amount of child tax allowance?

As of 2023, the Child Tax Credit in the United States provides up to $2,000 per qualifying child under age 17. This amount may vary based on income and other factors, with a portion of the credit being refundable for eligible families. Additionally, the credit is subject to phase-out thresholds depending on the taxpayer's modified adjusted gross income. For the most accurate and personalized information, it's advisable to consult the IRS or a tax professional.