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Child Tax Credit (CTC)
- AN OVERVIEW -
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The Child Tax Credit (CTC) is a federal tax credit for low and moderate income families with dependent children under age 17. The purpose of the Child Tax Credit is to lower the tax burden of families who are raising children. The maximum CTC is $1000 per qualifying child.
The Child Tax Credit is a nonrefundable credit, meaning that the amount of the credit is limited to the amount of taxes a family owes. Families who cannot get the full Child Tax Credit may be eligible for the Additional Child Tax Credit, a refundable tax credit that allows families who don't owe any taxes, or owe less than their CTC amount, to get a refund payment from the government.
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