Child Tax Credit

Have you heard about the 2024 Child Tax Credit?

The Child Tax Credit helps families with qualifying children get a tax break. You may be able to claim the credit even if you don't normally file a tax return.

Who qualifies for this tax credit?

You can!  For each qualifying dependent child who has a Social Security number in the United States, you can claim the Child Tax Credit.

Many people think that only parents of biological children are eligible. However, different types of caregivers qualify too!  To be a qualifying dependent in the 2024 tax year, your dependent generally must:

• Be under 17 at the end of the tax year.

• Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew).

• Not provide more than half of his or her own support for the tax year.

• Have lived with you for more than half the tax year.

• Be claimed as a dependent on your return.

• Not file a joint return for the year (or filed the joint return only to claim a refund of taxes withheld or estimated taxes).

• Be a U.S. citizen, U.S. National or a U.S. resident alien.

• Must have a Social Security Number that is valid for employment and is issued before the due date of your tax return (including extensions).

You qualify for the full amount of the 2024 Child Tax Credit for each qualifying child if you meet all eligibility factors and your annual income is not more than $200,000 ($400,000 if filing a joint return).

Parents and guardians with higher incomes may be eligible to claim a partial credit.

How Do I Claim This Credit?

You can claim the Child Tax Credit by entering your children and other dependents on Form 1040, U.S. Individual Income Tax Return, and attaching a completed Schedule 8812, Credits for Qualifying Children and Other Dependents. 

Don’t leave money on the table!  To learn more about this opportunity visit the IRS website at https://www.irs.gov/credits-deductions/individuals/child-tax-credit or point your phone’s camera at the QR code below: