What is the child tax credit?
The Child Tax Credit (CTC) can reduce the amount of Federal income tax owed by up to $1,000 per child. If the tax has already been taken out through employer withholding, the taxpayer can get a larger refund with CTC. If the tax has NOT been taken out and is owed to the IRS, the CTC can mean the taxpayer has less tax to pay or the tax might be completely eliminated.
