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The Child Tax Credit is a Non-Refundable Credit. This means that the $1000.00 that is credited per child can only bring your Taxes owed down to -0-. If you this is the case then you may qualify for the Additional Child Tax Credit:
Despite the name, the Additional Child Tax Credit is not a credit you get for additional children; rather, it's the refundable portion of the Child Tax Credit.
Here's how it works: Let's say you qualify for the $1,000 Child Tax Credit but your tax liability for the year is only $750. You'd get a $750 Child Tax Credit (the amount needed to reduce your tax liability to $0) and, if you qualify, the remaining $250 as the Additional Child Tax Credit.
Qualifications for the Additional Child Tax Credit are the same as the Child Tax Credit, except you also need to have at least $3,000 in earned income. We'll automatically give you this credit if you're eligible.
The Child Tax Credit is a Non-Refundable Credit. This means that the $1000.00 that is credited per child can only bring your Taxes owed down to -0-. If you this is the case then you may qualify for the Additional Child Tax Credit:
Despite the name, the Additional Child Tax Credit is not a credit you get for additional children; rather, it's the refundable portion of the Child Tax Credit.
Here's how it works: Let's say you qualify for the $1,000 Child Tax Credit but your tax liability for the year is only $750. You'd get a $750 Child Tax Credit (the amount needed to reduce your tax liability to $0) and, if you qualify, the remaining $250 as the Additional Child Tax Credit.
Qualifications for the Additional Child Tax Credit are the same as the Child Tax Credit, except you also need to have at least $3,000 in earned income. We'll automatically give you this credit if you're eligible.
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