The Child Tax Credit & Additional Child Tax Credit

One of the most beneficial and popular federal tax credits is the Child Tax Credit. This is a nonrefundable tax credit, and it’s worth up to $2,000 per qualifying child.

Who is Considered a Qualifying Child?

The IRS considers a qualifying child to be a child that meets all of the criteria below:

• Under the age of 17 at the end of the year
• Has resided with you for more than half of the year
• Is your dependent on your federal taxes
• Is a US citizen and has a valid SSN
• Is a relative such as your child, sibling, stepchild, stepsibling, foster child, legally adopted child, or a descendant from any of the previously mentioned individuals.