Deductions & credits

You may not get the "full" child tax credit if you did not earn enough by working.  The rules for child tax credit and EIC are not the same for 2022 tax returns---they are changed a lot from the rules for 2021 tax returns.   For 2022, your CTC will be based on your tax liability and the amount you earned by working.   The refundable portion of the CTC--up to $1500-- is calculated by multiplying the amount you earned above $2500 by 15%. 

 

For 2021, you did not even have to work to get $3600 for a child under 6, or $3000 for a child age 6 to 17.  For 2022, the maximum amount of CTC is $2000, with only up to $1500 being the refundable "additional child tax credit" --which is based on how much you earned.   And you do not get the CTC if the child is older than 16.

 

https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit

 

 

 

 Your earned income credit is also based on the amount you earned by working---so you may not be getting the "full" amount if you did not earn enough--or if you earned too much.   EIC is calculated on a bell curve---your EIC is affected by how much or how little you earned.   Not everyone gets the "full" amount.

 

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**