The child tax credit is a refundable tax credit for taxpayers with qualifying children. If you qualify, you can claim the credit on your tax return, which can reduce your tax liability or increase your refund. The child tax credit is available to both working and non-working parents.
The child tax credit has been around since 1997, and it has been expanded several times over the years. The credit is currently worth up to $2,000 per qualifying child. To be eligible for the full credit, your child must meet all of the following requirements: