Parents all over the country have benefitted from the stimulus payments for advanced CTC payments, but what is the Additional Child Tax Credit?
This comes after the expanded CTC ended, which helped keep millions of kids out of poverty.
Additional Child Tax Credit explained
If the CTC you got are more than the amount of taxes you owe you can see a refund. It’s called the Additional Child Tax Credit.
The most you can receive with this method is $1,400.
It is required that you made at least $2,500 during the year to qualify for the tax credit.
If your income is below that then you will only see up to 15% of the amount brought in past $2,500.
Unemployment benefits or retirement are not considered income.
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