Child Tax Credit
The Child Tax Credit (CTC) is a federal tax credit of up to $1000 for each qualifying child under age 17 claimed on your tax return. The CTC is used to reduce or eliminate income tax owed. Additionally, changes to the CTC in 2001 have made it available to many more families and has provided a larger credit than in the past.
This additional credit is also a “refundable” tax credit meaning you can get it even though you owe no taxes.
Who is eligible for CTC?
You must be single or married and
- Have a qualifying child under 17
- Have taxable earned income above $11,300
- Have a Social Security number or Individual Taxpayer Identification Number (ITIN)
A “qualifying” child for CTC is similar to one for EITC except the child must be under age 17 at the end of the tax year and have a SSN or ITIN.
Can I get both EITC and CTC?
YES! Most low-wage families that qualify for CTC will also qualify for the Earned Income Tax Credit (EITC).
How do I apply for CTC?
You must file a federal tax form 1040 or 1040A. You can not use a 1040EZ. You must also submit
Form 8812 with your return to receive the CTC refund.
Download forms and publications
www.irs.gov/formspubs
or call 1-800-829-3676
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Here is how it works:
- Find out your maximum possible CTC (each child under 17 = $1,000)
- Figure out the tax on your income.
- Use the CTC to reduce or eliminate your tax
- If your tax is less than CTC, complete Form 8812 and attach it to your 1040 or 1040A to receive your refund.
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Remember you can get free help filing your taxes and claiming the credits by calling the IRS at 800-829-1040 for a list of Volunteer Income Tax Assistance (VITA) sites.
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