How to Apply. Purchase Loan & Cash-Out Refinance: VA loans are obtained through a lender of your choice once you obtain a Certificate of Eligibility (COE). You can obtain a COE through eBenefits, by mail, and often through you lender.
Loading the player... DEFINITION of 'Child Tax Credit'. The Child Tax credit is a credit given to taxpayers for each dependent child who is under the age of 17 at the end of the tax year. The Child Tax credit is a nonrefundable credit that reduces the taxpayer's liability on a dollar-for-dollar basis. The Child Tax credit is intended to provide an extra measure of tax relief for taxpayers with qualifying dependents. Next Up.
The child tax credit is a refundable credit that reduces the tax you owe. The amount of your credit is based on income and number of children in your home. There are income limits to the Child Tax Credit, and as your income reaches the limit, the amount of the credit will begin to phase out, or become lower.aving a child can positively affect your income taxes. Not only does having a child have a profound effect on your life, the event also affects your income taxes. When you have a child, you open the door to several tax credits that reduce your tax and generate a refund.