En esta noticia
The Internal Revenue Service (IRS) confirmed that families with minor children can receive up to $1,700 for each qualified child through the Additional Child Tax Credit. The amount is deposited directly into the bank account of those who file their tax return and meet the eligibility requirements.
This benefit is the refundable portion of the Child Tax Credit (CTC), which reaches a maximum of $2,200 per child. Unlike the traditional CTC, this portion allows taxpayers to receive money even if they owe little or no tax.
Who qualifies to receive up to $1,700 from the IRS?
To access the benefit, the taxpayer and each child must have a valid Social Security number for work, issued before the filing deadline. The child must be under 17 at the end of the tax year and must have lived with the filer for more than half of the period.
It is also required that the child has not covered more than half of their own living expenses and is claimed as a dependent on the return. Annual income cannot exceed $200,000 ($400,000 for joint filing) to receive the full amount.
Main conditions for the qualified child
- Be the filer’s child, stepchild, sibling, or direct descendant (grandchild, nephew).
- Be a U.S. citizen, national, or permanent resident.
- Not file a joint return of their own, except to claim withheld taxes.
- The filer must have a minimum earned income of $2,500 to access this refundable portion.
How do you receive the refund and what steps should you follow?
Those who meet the requirements must include their dependents on the Form 1040 and attach Schedule 8812, where the corresponding amount is calculated. The IRS also offers an Interactive Tax Assistant to verify eligibility before filing the return.
If the filer also claimed the Earned Income Tax Credit, the IRS will not be able to issue the full refund before mid-February of the corresponding year. Those who do not qualify for the CTC or ACTC may opt for the Credit for Other Dependents, of up to $500 per dependent.