How much will my family get from the Child Tax Credit?
Through the Child Tax Credit, families are eligible to receive up to $2,000 for each child in their care under the age of 17.
The first $1,500 per child is available to most families, regardless of whether you normally file taxes. The last $500 per child is only available to families that owe money on their income taxes, as an offset against taxes you would have otherwise paid.
Am I eligible for the Child Tax Credit?
You may qualify for the Child Tax Credit if you meet these criteria.
- You are a parent, guardian or caregiver with dependent children under 17. Children who turn 17 on or before Dec. 31, 2022 are not eligible.
- The child lived with you for at least 6 months in 2022 and you provide the majority of the financial support for the child. You do not have to be the child’s biological parent or have formal custody to qualify.
- Your child has a Social Security Number. If you do not have a Social Security number, you can still file your taxes with an Individual Tax Identification Number (ITIN), but your child must have a Social Security Number to receive the Child Tax Credit.
- You earned at least $2,500 from working in 2022.
- You fall below the following income limits to receive the full benefit.
- If you are single and meet the requirements for filing taxes as a head of household, your income must be under $200,000.
- If you have a spouse and choose to file your taxes jointly, your combined income must be under $400,000.
WHAT ABOUT THE MONTHLY PAYMENTS?
In 2021, Congress approved monthly payments of up to $300 per child, per month. Unfortunately, these monthly payments have not been renewed by Congress. Click here to tell your congressperson to renew the Child Tax Credit monthly payments!
If you missed out on the monthly payments in 2021, you may still be able to claim your credit:
- If you missed out on the monthly payments in 2021 but filed a tax return in 2022, you should have received a lump-sum payment in 2022 to make up for the monthly payments you missed.
- If you filed a tax return in 2021 and 2022, but didn’t get your monthly payments or a lump sum make-up payment, we can help you understand what happened and find out what you might be able to do.
- If you did not file a tax return in 2021 or 2022, you can still file a prior-year tax return in 2023 to claim your entire credit.