Child Tax Credit 2023: Amount, Eligibility & How to Claim it?

CTC comes under the American Rescue Plan, millions of working families in the United States are availing the benefit of this scheme. Eligible families are receiving their Child Tax Credit 2023 of $250 and $300 monthly for each child aged 6 and 17 or below, respectively, if you are married and have child aged 17 or below then you can claim CTC, to get updated information stay tuned.

Child Tax Credit 2023

Child Tax Credit is $3000 and $3600 for each child age of 6 and 17 or below, the total amount is credited to the claimant’s account in twelve installments of $250 and $350 monthly, payments are usually transferred through the direct deposit by the 15th of each month, it was launched by federal government during the COVID-19 to help the families to succeed, the scheme is still running, and millon of working families residing on the territory of USA are availing it’s benefits.

Federal Tax Return

IRS Tax Return Status

Where’s My Refund?

IRS Refund Deposit Date

Credit  CTC
Amount $3000 or $3600
Organization  Internal Revenue Service 
Ag 0 – 17 Years 

Due date for e-Filing 2022 tax refund is October 16, 2023 as per the extension deadline, one who has not yet e-Filed for return and he is she is eligible to claim Child Tax Credit, the he or she claim CTC at the timing of filing refund by filling out the Form 1040 with Schedule 8812 (“Credits for Qualifying Children and Other Dependents”). After e-filing for tax return and CTC, one can track its status using the “Where’s My Refund?” toll, which can be accessed 

Child Tax Credit Amount 2023

CTC is tax credit which are given to taxpayers for dependent children, whose age are less 17 years, to by claiming the Children Tax Credit one can get direct deposit of upto $250 or $300 monthly i.e $3000 or $3600 annually, those who filed for 2022 tax return electronically and also claimed CTC, they are likely to receive the first instalment of Child Tax Credit 2023 by the 15 July. A family can get the full credit of CTC, if a couple makes $150,000 annually or a single parent makes $112,500.

Child Tax Credit

CTC 2023 Eligibility 

To claim Child Tax Credit an individual must meet certain eligibility criteria, which we have listed below.

  • A child’s age must be above 17 years as of the end of 2023.
  • One can only claim for raising a child, if his or her relationship with the child is of son, daughter, stepchild, foster child, half brother, half sister, etc,.
  • The CTC filer has to prove the Child as dependent i.e. you and he or she won’t be able to file a joint tax return.
  • CTC claimer’s have to also prove that the Child is living with him or her at least 6 months or more.
  • The child must be financially supported for at least half a year by CTC claimer’s in the last tax year.
  • The CTC’s claiming child must have citizenship of the United States and hold a Social Security Number.

How to claim CTC in 2023?

On who meet with the certain eligibility criteria can file Form 1040 to claim Child Tax Credit on or before the due date of filing for refund electronically, one who is going to claim CTC will also have to fill out Schedule 8812 (“Credits for Qualifying Children and Other Dependents”), with Form 1040. To do so one can even use the Internal Revenue Service’s Free File software, because it makes the Tax Return e-Filing and CTC more easy and convenient.

You need to know that after e-filing for tax return with Child Tax Credit it takes 5 to 6 weeks to receive the tax return and CTC through the direct deposit, one who will have opted for check to get it will have to wait more than 7 to 10 days.

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