The Child Tax Credit: A Special Help for Families
How the Child Tax Credit Works
According to Kiplinger, The child tax credit is a special help for families. It helps reduce the amount of taxes they have to pay. This means that families can get some money back from the government. But not everyone can get this help, and the amount they get depends on how much money they make.
The child tax credit is worth up to $2,000 per child for the 2024 tax year. You can get some of your money back, but not all of it. So, even if you are eligible for the whole $2,000, you will not get it back. Good news is that you can get some of the credit back, and this year it’s more than last year.
Changes to the Child Tax Credit: What You Need to Know
If Congress doesn’t act, there will be big changes to the child tax credit in 2026. The credit will go down to $1,000 per child, and only kids younger than 16 will be able to get it. Visit the IRS website or use online tools to figure out your eligibility to learn more about these changes and how they might affect your family.