Child Tax Credit - Internal Revenue Service

You can claim the Child Tax Credit for each qualifying child who has a Social Security number that is valid for employment in the United States. To be a qualifying child for the 2024 tax year, your dependent generally must: 1. Be under 17 at the end of the tax year. 2. Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbr...

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How The Child Tax Credit Could Affect Your Refund (infographic)

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Up to 8% cash back · There have been a lot of changes with Child Tax Credit (CTC) recently that could affect your tax return this year. Thanks to legislation passed in 2021, millions of …

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Earned Income Tax Credit: Who's Eligible For 2024 Tax Returns - USA …

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2 days ago · The mother ended up getting $3,500 in a tax refund last year, thanks to the earned income tax credit and the child tax credit, Perkins said. "That is absolutely life-changing for a …

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$2,000 Child Tax Credit: How It Affects Your 2025 Tax Return

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Jan 15, 2025 · The Child Tax Credit for 2025 remains an important tool for millions of families in the United States. With a maximum of $2,000 per eligible child and the possibility of receiving …

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FAQs about Child Tax Credit - Internal Revenue Service Coupon?

Will claiming the child tax credit affect my tax refund?

Claiming the child tax credit has the potential to impact the timeline of your tax refund. As of Monday, Jan. 27, you are officially able to submit your tax return to the IRS. However, if you're thinking about claiming the child tax credit this year, you're in for a wait when it comes to your refund. ...

Should I claim the child tax credit this year?

However, if you're thinking about claiming the child tax credit this year, you're in for a wait when it comes to your refund. The child tax credit allows parents to lower the amount they owe in taxes each year, depending on how many eligible children they can claim as dependents, in an effort to help manage the costs of raising a family. ...

How does a child tax credit work?

The credit is factored in after you’ve calculated taxes and can potentially reduce what you owe. If the credit cancels out your tax bill, you can potentially receive a refund up to $1,600 per qualifying child after filing your tax return. The US government offers parents a handful of tax breaks to offset the cost of raising children. ...

What if my child tax credit is more than income tax?

So if the amount of your Child Tax Credit is greater than the amount of income tax you owe then you may not get the entire CTC. But you may still be able to claim the Additional Child Tax Credit (ACTC) which is the refundable component of the child tax credit (but treated as a separate payment). ...

Can I get a lower child tax credit?

However, if you accurately receive some advance Child Tax Credit, it is important to remember it may result in a lower Child Tax Credit received through your tax filing. Please be prepared if you are one of the taxpayers who may get smaller refunds (or even owing) when filing your tax returns. ...

Will reconciling Child Tax Credit payments cause IRS refund delays?

Reconciling the advance child tax credit payments may also cause IRS refund delays, similar to issues in 2020, experts say. There were still 6.3 million unprocessed returns as of Dec. 18, according to the IRS, including 2020 filings with stimulus check errors. ...