Find out how much the child tax credit will be in 2025, who is eligible, and when you can start filing your taxes.
In 2025, Americans will file their taxes for 2024, and millions may be eligible to receive a child tax credit, which is available to parents and guardians of minors of a certain age. The child tax credit currently provides up to $2,000 per child to about 40 million families every year.
It has been praised for lifting millions of children out of poverty, and research shows that a temporary expansion during the coronavirus pandemic significantly reduced food insufficiency and helped families achieve basic needs. When the expansion expired in 2022, 3.2 million American children fell below the poverty line. In 2025, when Americans file their 2024 tax returns, the maximum child tax credit is $2,000 per qualifying child. That applies to children under 17 who are dependents in your household. The refundable portion of the tax credit is $1,700 per qualifying child. Qualifying children must have a Social Security number and be under 17 years old at the end of 2024. They also must live with you for more than half of the tax year and provide no more than half of their own financial support during 2024. The child tax credit will decrease if the parent or guardian's gross income surpasses $200,000 for individual returns or $400,000 for joint returns. The child tax credit available this year is the same amount compared to last year, which is when Americans filed taxes for the 2023 tax year. For the 2023 tax year, the 2022 child tax credit was also $2,000 per child. However, in 2026, the value of the child will be lower, at just $1,000 per child. Taxpayers can begin filing taxes as early as January 29, when the Internal Revenue Service (IRS) will first make forms available. The IRS Free File program will also be available for tax prep starting on January 1
CHILD TAX CREDIT TAXES 2025 IRS FILING TAXES
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