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Child Tax Credit （ Child Tax Credit ） and Credit for Other Dependents （ ） for U.S. Income Tax

The Child Tax Credit （ Child Tax Credit ） and the Credit for Other Dependents （ are important tax credits available to taxpayers on their US income tax returns. By properly understanding and utilizing these credits, taxpayers can reduce their annual tax liability. This section provides a detailed overview of each of these tax credits and their conditions.

Child Tax Credit （ Child Tax Credit ）

For tax year 2024, the Child Tax Credit （ Child Tax Credit ） is an important credit available to families with qualifying children. Up to $ 2,000 credits are available per person, of which $ 1,700 are "refundable （ ）. This allows taxpayers to receive a refund in excess of the amount of tax they have paid. Low-income families who pay no income tax are also eligible to receive this refund.

Eligibility Requirements

For tax year 2024, the following conditions must be met to claim the child tax credit.

Age: Must be under 17 （ under 16 ） at the end of the year.
Relationship: must be a child, adopted child, stepchild, child with adoption permission, brother, sister, stepbrother, stepsister, half-brother, half-sister, or descendant of the taxpayer （ Example ： grandchild, niece, nephew ）.
Financial support: at least half of the annual living expenses ......

↓ To be continued ！
https://www.hkstanfield.com/blog/childtaxcredit/

[Contact]

• Hiromi K. Stanfield, CPA Inc.
• 14271 Jeffrey Road #385, Irvine, CA, 92620 US
• [TEL]+1 (949) 281-1219

Irvine Accounting Firm - U.S. and Japanese Tax ・ 20+ years in accounting ！ tax returns, company formation, accounting services ・ financial statement preparation, human resources ・ payroll, and life coaching.