What is The Child Tax Credit?

Child Tax Credit 

The Child Tax Credit exists for taxpayers who have a qualifying child as defined by IRS.

It is in addition to the credit for child and dependent care expenses (on Form 1040, Line 49; Form 1040A, Line 31; or Form 1040NR, Line 47)
and the Earned Income Credit (on Form 1040, Line 66a; or Form 1040A, Line 42a).

It is a credit to assist in reducing the amount of taxable income, but non-refundable. If taxable income is $0, this credit cannot be claimed, but the taxpayer may be able to take additional tax credit, which is refundable.

The maximum amount that can be claimed for the credit is up to $1.000 for each qualifying child.

Circumstances, such as school, vacation, business, medical care, military service, or detention in a juvenile facility, count as time the child lived with you. There are also exceptions for kidnapped children and children of divorced or separated parents.

For details, see the instructions for Line 6c in either the Form 1040 or Form 1040A instructions.

For more information on specific eligibility qualifications, please consult: IRS Publication 972