If you’re a parent, you know how expensive it can be to raise a family. Raising children is always an expensive proposition but the IRS wants to help. Through the IRS Child Tax Credit, parents can get a refund of up to $3,600 for each qualifying child under age 17 or a disabled dependent child. There are a few requirements that must be met in order to receive the maximum refund and this post will cover them in detail.

What is the Child Tax Credit? 

The Child Tax Credit is a non-refundable tax credit that reduces the amount of taxes owed on a yearly basis. It can be worth as much as $3,600 per qualifying child under 17 or a disabled dependent child.

The Requirements to Get the Maximum Refund

The Child Tax Credit is a great way for parents to receive money back from the IRS and it’s not too complicated to understand. The key to getting the maximum refund is understanding the requirements needed before you apply for this credit.

There are four main requirements that must be met in order to qualify for the maximum refund:
-Your child must be under 17 or your disabled dependent child.
-They must be your own child, your adopted child, your stepchild, or your foster child.
-They must have lived with you for more than half the year and not provided more than half their own support.
-You and your spouse’s (or former spouse) adjusted gross income must be less than $75,000 for single, $112,500 for head of household, or $150,000 for joint returns.

How to Claim and Apply for the Child Tax Credit

If you plan to claim the Child Tax Credit on your tax return, you must meet these requirements:
-The child must be under age 17 at the end of the year;
-The child cannot provide more than half of his or her own support;
-You must claim the dependent as a qualifying child.

To get your refund, you’ll need to apply for the credit by completing Form 1040 or Form 1040A and attaching Schedule 8812. Both parents can claim this credit but you can’t double dip by claiming it on both returns. When completing Form 1040, be sure to enter your Social Security Number in Part I and enter your total income in line 7. To get more information on how to get the maximum refund for each qualifying child, you should meet with a qualified tax attorney.

The Child Tax credit is a tax credit available to the parents or guardians of children under 18 years old. The maximum refund is $3,600 per eligible child.

To claim this credit, be sure to have the information you need on hand. This includes the Social Security number of the children, the number of children, and more. If you are eligible, you can use the IRS’s Child Tax Credit Calculator to find out how much you are eligible for.

File Form 1040 or 1040A to claim the Child Tax Credit. Send your form to the IRS along with any necessary supporting documentation.

If you need IRS tax help, call Guardian Tax Law to schedule an appointment. We’re happy to help you file your taxes and make sure you get the maximum refund you deserve.