Taxes Tips

Do You Qualify For the Child Tax Credit (CTC)?

This credit is for individuals who claim a child as a dependent, if the child meets additional conditions.  This is in addition to the credit for child and dependent care expenses. 

Some of the conditions are:

  1. The child is your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half -brother, half-sister, or a descendant of any of them. (for example, your niece, nephew, or grandchild).
  2. Child was under age 17 at the end of 2020.
  3. Child did not provide over half of his or her own support for 2020.
  4. Child lived with you for more than half of 2020.

This is one of many credits your tax preparer might have missed in preparing your taxes. If you have any questions or want to make sure you don’t overpay for taxes, contact us.