2023 Child Tax Credit

Do you have children who were 16 or under at the end of 2023 and at least $2,500 in earnings? If so, you may be eligible for the Child Tax Credit. It can provide a credit against your taxes of up to $2,000 per child. Even if you don’t owe income tax, up to $1,600 of the Child Tax Credit is available as a refund.

Do I qualify for the CTC?

• You and your spouse (if married filing jointly) must have an SSN or an ITIN
• You must have earned more than $2,500
• You must have qualifying children. But that includes not only your own children, but foster children, younger brothers and sisters, and grandchildren as long as you can claim them as a dependent on your tax return.
• Your child must have been under 17 (16 or younger) on December 31, 2023.
• Your child must have lived with you for more than half of 2023.
• Your child must have a valid SSN.

How much can I get?

• For low-income filers, the credit is worth up to $2,000 per qualifying child.
• The credit will reduce any taxes you owe.
• Even if you don’t owe income tax, up to $1,500 of the Child Tax Credit is available as a refund to families earning more than $2,500!
• But you must file a tax return to get the credit.
• If you were eligible for the 2021 expanded Child Tax Credit and didn’t get it, it’s not too late. Visit http://www.taxoutreach.org/expanded  to learn more.