Child Tax Credit Requirements 2021 Corvette. Presently, the child tax credit is worth $2,000 per kid under the age of 17 whom you claim as a dependent and who has a social security number. The child tax credit can significantly reduce your tax bill if you meet all seven requirements:
The child tax credit (ctc) is set to $2,000 per child for 2021, the same level as it was in 2020, and is available to taxpayers who have children aged under 17 at the end of the tax year.
There are many ways to qualify for this valuable tax credit and checking eligibility for a qualifying child is the first step. Rather than functioning like a deduction, the child tax credit operates as a tool that works toward reducing the amount you pay in taxes. To qualify for the child tax credit, you must have a child or dependent who meets all of the following requirements This article will cover all of the child tax credit basics that you should know.
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