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The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income. Here are 10 important facts from the IRS about this credit and how it may benefit your family.
The âadditionalâ child tax credit is actually the refundable portion of the âoriginalâ child tax credit, which is worth up to $1,000 per child. Typically, families claiming the credits count on getting their tax refunds as soon as possible to help pay down debt, pay bills or finance car repairs, according to a report from the Tax Policy Center. Families with children are especially vulnerable.