Question

Kiarareesekr — Thu, 30 Jan 2020 14:16:40 GMT

I filed my taxes and claimed my son , but it looks like it’s not giving me back the money for my son . I’m confused can someone help me figure out why I’m not receiving the money I’m supposed to

Re: Question

MayaD — Thu, 30 Jan 2020 16:35:53 GMT

If you are referring to the Child Tax Credit, your refund will not automatically include $2000 per child for child tax credits.

Here's how it works, the credit is used first to reduce your tax liability to zero. After that, there is a refundable portion (up to $1400) called the Additional Child Tax Credit that is calculated based on the amount of income you earned.

The child tax credit is reduced by $50 for every $1000 over these limits:

Married filing jointly $400,000
Single, Head of Household, Married Filing Separately or qualifying widower $200,000.

To claim the credit you son must have lived with you the whole year and he has a social security number. Also if your child turned 17 in 2019 you can still claim him as dependent but you will not receive the Child Tax Credit.

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