The Internal Revenue Service (IRS) of the United States offers a tax benefit for families with children who meet the established requirements for the Child Tax Credit (CTC) and its refundable portion, the Additional Child Tax Credit (ACTC). If the necessary conditions are met, this deposit into bank accounts can amount to up to 1,700 per child.
To claim it, children and other dependents must be declared as such on Form 1040 and file the corresponding Schedule 8812.
Requirements to access this IRS deposit
To be eligible for the Child Tax Credit, both the taxpayer and each child claimed as a dependent must have a U.S. Social Security number.
For pending returns and those corresponding to tax year 2025, in addition, the child must
- Have been under 17 years old at the end of the tax year
- Be a child, stepchild, eligible foster child, sibling, or other relative covered by the IRS, or a descendant of any of them
- Not having provided more than half of their own support during the tax year
- Have lived with the taxpayer for more than half of the tax year
- Do not file a joint return, except for certain exceptions related to refunds of withheld taxes or estimated payments
- Be a U.S. citizen, U.S. national, or resident alien
This credit is worth up to 2,200 dollars per qualifying child, while the refundable portion is 1,700 per child.
Important information about this IRS deposit
To obtain the full CTC for each child, annual income must not exceed 200,000 dollars, or twice that amount if filing jointly.
Those who wish to confirm exactly whether they qualify to claim this credit or not can do so using the official IRS tool.