Child Tax Credit 101: How It Works and Who’s Eligible

Maximize Your Benefits: Who Can Get the Child Tax Credit and How Much They Can Receive

According to CNET, The child tax credit is a program that helps families with kids. It sends monthly payments to eligible parents. The amount of money you get depends on how old your child is. If your child is under 6, you can get up to $300 a month. If your child is between 6 and 17, you can get up to $250 a month.

Some children are not eligible for the monthly payments, but can still get some help. Children who are 18 or older can get a one-time payment of $500 in 2022 if they are claimed as a dependent on their parent’s tax return. Children who are in college can also get this one-time payment.

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Who Qualifies for the Child Tax Credit: Eligibility Requirements and Exceptions

To qualify for the child tax credit, your child must live with you for at least half the year, unless there is a good reason why they were away. Children with disabilities can also get help through a different program. The goal of the child tax credit is to help families who need it most.

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