If you have a child, you may be eligible for the Child Tax Credit. For 2023, the credit is up to $2,000 per qualifying child. To qualify, a child must:
- Have a Social Security number
- Be under age 17 at the end of 2023
- Be claimed as a dependent on your tax return
A portion of the Child Tax Credit is refundable for 2023. This portion is called the Additional Child Tax Credit (ACTC). For 2023, up to $1,600 per child may be refundable.