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The Child Tax Credit (CTC) is a tax benefit from the Internal Revenue Service (IRS) that all taxpayers who meet the requirements and file their Tax Return can access.

It is a nonrefundable credit that serves to reduce the taxes the taxpayer must pay. However, through the Additional Child Tax Credit (ACTC), a refundable portion can be accessed.

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Who can access the CTC?

To be able to claim the Child Tax Credit, both the taxpayer and their child must meet the eligibility requirements established by the IRS.

The taxpayer must correctly complete Schedule 8812 of Form 1040 and file it on time during tax season.

What are the requirements?

Among the requirements the child must meet are:

  • Be under 17 years old at the end of the tax year.
  • The family relationship must be:
    • Child, including adopted children
    • Stepchild
    • Sibling
    • Stepsibling
    • Half-sibling
    • Descendant of any of them
  • Not have provided more than half of their own support during the tax year.
  • Be claimed as a dependent.
  • Have a Social Security Number (as well as the taxpayer)
  • Be a citizen or legal resident of the United States.

What is the amount of the CTC, and how much can be received as a refund per child?

The Child Tax Credit amount is $2,200, and the ACTC, that is, the refundable portion, is $1,700 per qualifying child. This means that if two or more eligible children are claimed, the amount can be doubled or tripled.

In addition, it is compatible with other benefits such as the Earned Income Tax Credit.