• A child tax credit is a refundable tax credit claimed by completing Form 1040 and attaching Form 8812 to the return.

  • To qualify for credit, the taxpayer’s dependent must generally be aged 18, be a specific relative, have lived with the taxpayer for more than six months, and provide no more than half of their financial support.
  • For taxes for 2020, tax law allows for an income tax credit of up to $2,000 per child (under age 17), which may be partially refundable for some taxpayers.
  • For 2021 taxes, the credit was $3,000 (children under age 18) or $3,600 (children under age 6) per eligible child for U.S. taxpayers - it was fully refundable and could be received as monthly advances payments.
  • The Extended Credit Extension Act for 2022 has not been passed - thus the credit will return to $2,000 and be partially refunded on an annual basis in tax year 2022.