Child Tax Credit - CalEITC4Me
Child Tax Credit

Crédito Tributario por Hijos

What is the Tax Refund for Children? What does the Tax Refund for Children consist of?

The Children's Tax Credit (CTC) is a non-refundable federal tax credit available to taxpayers who have children and meet certain requirements. In order to be eligible, your child must be under 17 years old, have a valid Social Security Number, and be listed as a dependent on your tax return. The credit can reduce the amount of your taxes dollar for dollar, potentially resulting in a zero tax liability.

For the year 2023 (when taxes are filed in 2024), the CTC has a value of $2,000 for each qualifying child if their modified adjusted gross income is $400,000 or less (married couples filing joint returns), or $200,000 or less (all other individuals filing returns). If you meet the necessary requirements, you may receive a refundable portion called the Additional Child Tax Refund, worth up to $1,600 per child. Some families may also receive monthly payments instead of waiting for tax dates.

The Tax Relief for American Families and Workers Act of 2024, a bipartisan proposal introduced on January 16, 2024, aims to increase the maximum refundable amount per child in the upcoming fiscal years. The suggested increases are $1,800 for fiscal year 2023, $1,900 for fiscal year 2024, and $2,000 for fiscal year 2025.

What is the Additional Child Tax Credit? What is the Additional Child Tax Credit?

The Additional Child Tax Refund (ACTR) is the refundable portion of the tax credit that is given to individuals who have children. If you meet the requirements for the Child Tax Credit (CTC), but are unable to fully utilize it because you do not owe taxes or owe less than the refund amount, you may still be eligible to receive a partial refund by requesting the Additional Child Tax Refund.

To claim the ACTC, you must meet the same income and dependent requirements as those required for the CTC, and there are also other rules that must be taken into account: To claim the ACTC, you must meet the same income and dependent requirements as those required for the CTC, and there are also other rules that must be taken into account.

  • To be eligible, one must have a minimum income from work of at least $2,500 or have three or more dependents who meet the requirements.
  • You or your spouse (if you are married and filing jointly) are not allowed to exclude earnings from overseas on your taxes by filing Form 2555 or Form 2555-EZ. You or your spouse (if you are married and filing jointly) are not eligible to exclude income earned abroad from your taxes by submitting Form 2555 or Form 2555-EZ.

Preguntas frecuentes

My son does not have a Social Security Number (SSN). What are the requirements for the Child Tax Credit?

Unfortunately, no. Your child must have an SSN for you to be eligible to receive the Child Tax Credit. However, you may still qualify for the California Child Tax Credit.

My child has an SSN, but I have an Individual Taxpayer Identification Number (ITIN). Do I still meet the requirements for the Child Tax Credit? Even though my child has an SSN, I have an Individual Taxpayer Identification Number (ITIN). Am I still eligible for the Child Tax Credit?

¡Sí! If your child has an SSN, you may qualify for the Child Tax Credit. ¡Sí! If your child has an SSN, you meet the requirements for the Child Tax Credit.

What happens if I don't owe taxes or don't file my taxes? What happens if I have no tax liability or fail to report my taxes?

Claim Your Tax Refund, Even If You Have No Income or Tax Liability Taxpayers can still benefit from a refund even if they have no earned income or owe no taxes on their income. To claim the Child Tax Refund, you must file your taxes.

Can I get the Child Tax Refund in advance? Can I receive the Child Tax Refund in advance?

Yes! The Child Tax Credit Refund can be paid in advance, and you can choose to receive monthly payments. To do this, you may need to select the option for advance payments on the Internal Revenue Service (IRS) website.

When can I expect to receive the funds from the Child Tax Refund? When can I anticipate receiving the funds from the Child Tax Refund?

For those who file their taxes early: the IRS is unable to issue refunds for tax returns claiming additional child tax credit until mid-February, as mandated by law. If you choose direct deposit, file your return online and ensure it is error-free. According to the IRS, you should expect to see the refund in your account no later than February 27, 2024.