Young blonde female sitting at kitchen table with papers and portable computer with her baby son while he is staying at home with her<a href="">Image by shurkin_son</a> on Freepik
Alexandra Sabalier
December 14, 2023
1 min

What is the Child tax Credit?

The Child Tax Credit (CTC) is a tax benefit provided by the U.S. government to eligible families with qualifying children. It is designed to help alleviate the financial burden of raising children and is a part of the US tax code. Here are some key points to understand about the Child Tax Credit:

1. Eligibility Criteria:

- The taxpayer must have a qualifying child who meets specific criteria. A qualifying child is typically a dependent child under the age of 17 at the end of the tax year.

- The child must be a U.S. citizen, national, or resident alien.

2. Maximum Credit Amount:

- As of the most recent information, the maximum credit amount is $3,600 per qualifying child under the age of 6 and $3,000 per qualifying child aged 6 to 17. These amounts may be subject to change, so it's essential to check the latest tax regulations.

3. Phase-out Limits:

- The credit amount begins to phase out for taxpayers with higher incomes. The phase-out thresholds vary based on filing status, and income levels above these thresholds result in a reduction of the credit.

4. Refundable Portion:

- The Child Tax Credit includes a refundable portion, known as the Additional Child Tax Credit (ACTC). This allows eligible families to receive a refund even if their tax liability is reduced to zero. The ACTC is calculated based on earned income.

5. Changes Due to Legislation:

- Tax laws and regulations, including those related to the Child Tax Credit, may change. It's crucial to stay informed about any updates or modifications to tax legislation.

6. Claiming the Credit:

- To claim the Child Tax Credit, taxpayers need to include relevant information about their qualifying children when filing their annual tax return. This may include providing Social Security Numbers and other details.

It's recommended to consult with a tax professional or use tax preparation software to ensure accurate and up-to-date information when claiming the Child Tax Credit. Tax laws can be complex, and eligibility criteria may vary based on individual circumstances.

To confirm your eligibility and claim the Child Tax Credit, schedule a consultation online with tax attorney Alexandra Sabalier, Esq. at Sabalier Law. We look forward to helping you in claiming all the tax benefits and refunds that you qualify for.

Why hire me?
  • 100% Online and Safe
  • Personal Lawyer
  • Affordable
  • At Sabalier Law, you count with expert legal representation and guidance throughout your entire process as well as support afterwards
  • 100% online services using the latest in secure technology to effectively and successfully represent you and your case no matter where you reside in the world
  • Confidential communication, document review, and legal advise fully protected by the Attorney- Client privilege
  • Unlimited legal consultations via telephone, video-call, and e-mail
  • Fully Billingual communication, and legal services in English and Spanish
  • Expert legal preparation and expedited submission of your documents
  • Constant updates and communication with you on the status of your case, applications, and documents' reviews
  • Timely notification of changes in the laws and procedures that are relevant for your case
  • Attentive personal support throughout our entire Attorney- Client relationship
  • Guaranteed maximum secure electronic payment platforms to ensure smooth and easy payment methods anywhere you are located in the world
© Copyright Sabalier Law 2024
Made with special  by
Javier Ortiz Saorin