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Is the additional child tax credit the same as the refund you'd get for your child?? Why am I only getting 1500 for cold under age of 5

 
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2 Replies

Is the additional child tax credit the same as the refund you'd get for your child?? Why am I only getting 1500 for cold under age of 5

Of the $2000 child tax credit  only $1500 can be refundable in 2022 which is a lot different than the maddness that happened in 2021.

Hal_Al
Level 15

Is the additional child tax credit the same as the refund you'd get for your child?? Why am I only getting 1500 for cold under age of 5

Q. Is the  the same as the refund you'd get for your child??

A. Simple answer: Yes.

 

Q. Why am I only getting $1500 for a child under age of 5.

A. $1500 is the 2022 limit for the additional child tax credit.

 

The money you hear about people getting for just filing a tax return claiming kids requires them to  have some earned income (wages or self employment). Without earned income, they are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit.  Both credits are calculated on the amount of earned income you have. No earned income means no "refund". A small amount of earned income means a small refund. The child tax credit does not "kick in" unless you have at least $2500 of earned income.

 

See the 2022 EIC table at:

https://www.irs.gov/instructions/i1040tt#idm140702909059168

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