- Nov 01 2022
- 10:00 am - 11:30 pm
Child Tax Credit Event
Feel free to invite your clients to join us on November 1 at 1:00 PM ET/12:00 PM CT/11:00 AM MT/10 AM PT at https://www.facebook.com/centeronbudget.The Q&A session will be recorded, so people can watch it at any time if they cannot make it live. As a reminder, GetCTC.org is available through November 15.
Enacted in 1997 and expanded with bipartisan support since 2001, the Child Tax Credit (CTC) helps working families offset the cost of raising children. It is worth up to $2,000 per eligible child (under age 17 at the end of the tax year). The CTC also includes a $500 non-refundable credit for families with qualifying non-child dependents.
Taxpayers eligible for the credit subtract it from the total amount of federal income taxes they would otherwise owe. For example, if a couple with two qualifying children would owe $4,600 in taxes without the credit, they would owe $600 in taxes with it, because the credit would reduce their tax bill by $2,000 for each child.