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The Child Tax Credit is a significant tax credit for those with qualified dependent children under age 17 (more on qualifications in a bit). The Child Tax Credit is a non-refundable income tax credit (with the possibility for it to become refundable through claiming the Additional Child Tax Credit). With a non-refundable credit, if your credit exceeds your income tax liability, then you wonât get a refund for the difference.
7 Requirements for the Child Tax Credit. The Child Tax Credit can reduce your tax bill by as much as $1,000 per child, if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all seven to claim this tax credit.