child tax credit
Dependent offspring benefit
A child tax credit is a tax benefit that reduces what parents or guardians owe in income taxes based on having dependent children.
The credit typically phases out at higher income levels.
In the U.S., the child tax credit has varied in amount and refundability—whether families can receive money back if the credit exceeds their tax liability.
- refundMoney returned after purchase
- standard deductionPreset tax-free income amount
- income limitMaximum earnings for eligibility
- tax deductionPermitted income reduction
- economic mobilityMovement between income levels
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- Tax Credits
- benefitsadvantage, healthcare coverage, dental insurance, benefit, health screening
- Federal TaxesIRS, tax return, tax refund, Form 1040, 1040
- taxationtax, income tax, sales tax, tax return, tax refund
- family benefitsdaycare subsidy, childcare, nanny share, childcare subsidies, adoption leave
- Family Policyfamily allowance, parental leave, maternity leave, paternity leave, childcare subsidies
child tax credittax penalty
Charge for tax noncompliance
tax liability · tax burden · marriage penalty · additional tax · surtax