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Child Tax Credit

In addition to the ability to claim your children as dependents on your income tax return, taxpayers have the ability to receive the Child Tax Credit (CTC) for each qualifying child as well as the Additional Child Tax Credit (ACTC) for each qualifying child. It is possible that claiming either the CTC or the ACTC can generate a tax refund for you even if you do not owe any income taxes.
The Child Tax Credit (CTC) allows a credit up to as much as $1,000 for each qualifying child. It is based upon the adjusted gross income of the taxpayer claiming the credit. The Additional Child Tax Credit (ACTC) requires the completion of Form 8812.

What is required to claim a qualifying child for either the Child Tax Credit or the Additional Child Tax Credit?

Each of the following conditions must be met in order to count a child as having met the qualifications for the purposes of claiming either credit:

  • The child must be less than 17 years of age on December 31st of the tax year in question.
  • The child for whom the CTC or ACTC is being claimed must be a daughter, son, adopted child, eligible foster child, stepchild, stepsister, stepbrother, sister, brother, or a descendent of any of the aforementioned individuals.
  • The child must be a United Stated citizen or resident alien.
  • The child must be claimed as a dependent for the tax year in question.
  • The child must have lived with you in your home for more than half of the tax year for which you are filing.
  • The child must not have provided more than half of their own financial support.
Can Grandparents raising a grandchild claim either the Child Tax Credit or the Additional Child Tax Credit?

If you are a grandparent who is raising a grandchild and you can claim this individual as a dependent on your income tax return, special rules may allow you to take one or both of these child tax credits. Consult a tax service representative if you are unsure of what procedure to follow.

What are the adjusted gross income limits for any taxpayers who claim the Child Tax Credit or the Additional Child Tax Credit?

If you file your tax return with the status married filing jointly, your adjusted gross income limit is $110,000. If you file your tax return with the status married filing separately, then the limit for your adjusted gross income is $55,000. If you file your tax return with the any other status, your adjusted gross income limit is 75,000.