Easy techniques to make your own Christmas sweater without sewing
You don’t need a needle, thread, or a big budget to make a custom, tacky Christmas sweater.
If you’re a parent or guardian, filing taxes can be much more complicated than if you’re an individual. The good news is that depending on your income level, you may be eligible for tax credits and credits not available to single filers.
Here’s what you need to know about the child tax credit. The Child Tax Credit is a reliable way to save money for eligible taxpayers.
For children under 17, the maximum tax credit per eligible child is $2,200. For the refundable portion of the credit (or additional child tax credit), you can receive up to $1,700 per qualifying child.
Who is eligible for the Child Tax Credit?
There are several requirements to qualify. First, you must be a parent or guardian filing your 2025 taxes.
To qualify, children and dependents must also have a valid Social Security number for employment in the United States, according to the IRS. You must be under 17 years of age at the end of the year. Other requirements include:
- Must be your son, daughter, stepchild, eligible foster child, brother, sister, brother-in-law, sister-in-law, half-brother, half-sister, half-sibling, or descendant (niece, nephew, grandchild, etc.).
- You cannot exceed half of your own financial support during a tax year.
- They must have lived with you for more than half of the tax year.
- You must properly declare them as dependents on your tax return.
- You cannot file a joint return with your spouse in a tax year. You also cannot file a return solely to claim a refund of income taxes withheld or estimated tax payments.
- They must be a U.S. citizen, citizen, or resident.
How much is the child tax credit worth?
- If a parent or guardian’s gross income exceeds $200,000 if filing individually or $400,000 if filing jointly with a spouse, the child tax credit and additional tax credits are reduced by up to $2,200.
- If you owe little or no federal income taxes, you may be eligible for the Additional Child Tax Credit of up to $1,700 per qualifying child, depending on your income. However, you must earn at least $2,500 to qualify for ACTC.
How do I claim the child tax credit?
To receive the child tax credit, you must list your children and other dependents on your U.S. individual income tax return, Form 1040. You must also complete Schedule 8812, which itemizes credits for eligible children and other dependents.
