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Add documentation for CTC facts

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Also add <TaxYear> tag to facts that will need to be inspected for changes (even if that is obviated by new legislation)
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Skippy Williams 2025-06-22 23:26:24 -07:00
parent fc2b58918e
commit b9faed845c
2 changed files with 20 additions and 11 deletions
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25
direct-file/backend/src/main/resources/tax/ctcOdc.xml
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@ -191,7 +191,9 @@
<Fact path="/maxCtcAmount">
<Name>Maximum child tax credit amount</Name>
<Description>The maximum child tax credit per child</Description>
<Description>The maximum child tax credit per child. Established in 26 U.S. Code § 24.
Under current legislation, this reduces to $1,000 for TY 2026. Can be found in instructions
for Schedule 8812.</Description>
<TaxYear>2024</TaxYear>
<Derived>
@ -248,8 +250,9 @@
<Fact path="/totalPotentialOdc">
<Name>Total potential ODC</Name>
<Description>The maximum amount of the Credit for Other Dependents that could be claimed.
Reported on line 7 of
Schedule 8812.</Description>
Established in 26 U.S. Code § 24. Under current legislation, ODC expires as a credit in TY 2026.
Reported on line 7 of Schedule 8812.</Description>
<TaxYear>2024</TaxYear>
<Export mef="true" />
<Derived>
@ -313,9 +316,10 @@
<Fact path="/dependentCreditPhaseoutThreshold">
<Name>Dependent credit phaseout threshold</Name>
<Description>The MAGI threshold at which the dependent credits begin to phaseout. Reported on
line 9 of Schedule
8812.</Description>
<Description>The MAGI threshold at which the dependent credits begin to phaseout.
Set in 26 U.S. Code § 24. Under current legislation, amounts shown here persist through TY2025
and then revert to $110,000 MFJ / $75,000 not married / $55,000 MFS for TY 2026.
Reported on line 9 of Schedule 8812.</Description>
<Export mef="true" />
<TaxYear>2024</TaxYear>
@ -806,8 +810,9 @@
<Fact path="/maxActcAmount">
<Name>Maximum additional child tax credit amount</Name>
<Description>The maximum additional tax credit per child
Rev Proc .05 Child Tax Credit §24(d)(1)(A)
<Description>The maximum additional tax credit per child. Established in 26 U.S. Code § 24.
This is adjusted for inflation annually, with special rules applied through TY 2025.
See inflation adjustment Rev Proc section .05 Child Tax Credit §24(d)(1)(A) for annual amounts.
</Description>
<TaxYear>2024</TaxYear>
@ -857,8 +862,8 @@
<Fact path="/actcRefundabilityThreshold">
<Name>Additional CTC refundability threshold</Name>
<Description>The amount of earned income that must be exceeded in order to receive the
refundable additional child
tax credit.</Description>
refundable additional child tax credit. Set in 26 U.S. Code § 24. Under current legislation,
reverts to $3,000 in TY 2026.</Description>
<TaxYear>2024</TaxYear>
<Derived>

6
direct-file/backend/src/main/resources/tax/familyAndHousehold.xml
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@ -3856,7 +3856,11 @@
<Fact path="/familyAndHousehold/*/eligibleCtc">
<Name>Eligible for the Child Tax Credit</Name>
<Description>The dependent is eligible for the Child Tax Credit (CTC).</Description>
<Description>The dependent is eligible for the Child Tax Credit (CTC). Eligibility rules are
established in 26 U.S. Code § 24. Under current legislation, the requirement to have a SSN
and include it on the return expires after TY 2025.
See instructions for Schedule 8812 for current tax year guidance.</Description>
<TaxYear>2024</TaxYear>
<Export downstreamFacts="true" />
<Derived>