What is Child Tax Credit?
Definition The child tax credit is a per-child credit for taxpayers with qualifying dependent children under a set age. Part of it is refundable through the additional child tax credit, meaning it can generate a refund even if no tax is owed. The credit phases out for higher-income taxpayers.
It is one of the most valuable credits for families, so confirming dependent eligibility and income phase-outs directly affects a household's refund.