Child Tax Credit and Credit for Other Dependents

This video was published by the IRS.

Many parents claim the Child Tax Credit to help with the cost of raising children. The credit can be $2000 per qualifying child. This credit applies if:

• The child is younger than 17 at the end of the tax year.
• You claim the child as a dependent.
• The child lived with you for more than half the year.

Be sure to have an eligible Social Security number for each qualifying child before you file your tax return. You could get up to $1,400 for each qualifying child as a refund even if you don’t owe any tax.

If you can’t claim your dependent for this credit, you may qualify for the Credit for Other Dependents. For this credit you may be able to claim qualifying children who do not have the required Social Security number, or a qualifying relative, such as a child 17 or older, or parents or other relatives who you support. You could reduce you tax bill up to $500 per qualifying person.

To find out more and to see if you’re eligible for these tax credits, check out Publication 972 which you can find by searching IRS.gov/pub972 or use the IRS Interactive Tax Assistant at IRS.gov/ita.