The child tax credit can reduce the amount that you owe for taxes. If youʼre current tax liability is less than the child tax credit than you may be eligible for the additional child tax credit.
This additional tax credit will allow you a refund. The amount of the refund will differ depending on your total earned income. It may also be affected by the amount of social security and Medicare taxes that were paid.
The additional child tax credit is available to taxpayers with qualifying children. A qualifying child must be under the age of 17 before the end of the tax year and be a resident or citizen of the United States. You must also be able to claim this child as a dependent on your return.
You may receive a refund through the additional child tax credit up to 15% of your total earned income over $11,750.00 and under the income limitations.
The income limitations are as follows:
•Married filing jointly- $110,000
•Single, head of household-$75,000
•Married filing separately-$55,000
