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All of the following statements regarding the 2022 Additional Child Tax Credit are correct, EXCEPT? The Additional Child Tax Credit is a refundable credit. The

All of the following statements regarding the 2022 Additional Child Tax Credit are correct, EXCEPT?

  1. The Additional Child Tax Credit is a refundable credit.
  2. The Additional Child Tax Credit is a nonrefundable credit.
  3. Taxpayers must have an earned income of at least $2,500 to qualify.
  4. The maximum Additional Child Tax Credit is $1,500.

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