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The Child Tax Credit allows you to claim a maximum $1,000 per qualified child. This is a non-refundable income tax credit (with the possibility for it to be refundable through the Additional Child Tax Credit), meaning that if your credit exceeds your income tax liability, then you wonât get a check for the difference.
What is the Additional Child Tax Credit? If you cannot take the full Child Tax Credit because you owe less income tax than the amount of the credit, you may be able to claim the Additional Child Tax Credit. This credit is refundable, which means you can take this credit even if you owe little or no income tax. To qualify for this credit, you must have more than $3,000 in earned income. The Additional Child Tax Credit is based in part on the Child Tax Credit. If you do not qualify for the Child Tax Credit, you cannot take the Additional Child Tax Credit. What are the qualifications for each child?