Child Tax Credit for 2023
Child Tax Credit
Attention: This Child Tax Credit Calculator is for tax year 2023 and is being updated as information becomes available.
This CHILDucator will let you know if you qualify for the Child Tax Credit and/or the Other Dependent Tax Credit on your 2023 Tax Return; the amounts are also included. The Additional Child Tax Credit or ACTC requires information that is based on your 2023 Tax Return. Thus, we suggest you use the eFile Tax App to calculate all three child or dependent-related credits for your 2023 Tax Return for free.
There can be three parts to the Child Tax Credit:
- The Child Tax Credit or CTC - up to $2,000 for each qualifying child
- The Credit for Other Dependents or ODC - $500 for each qualifying individual
- The Additional Child Tax Credit or ACTC - up to $1,500 for qualifying individuals.
The CTC and ODC are non-refundable tax credits, and the ACTC is a refundable tax credit that can be claimed on your next tax return.
After using the CHILDucator below, we strongly recommend using the CAREucator or Child and Dependent Care Credit Calculator to determine if you might qualify for this other tax credit in case you paid child or dependent care expenses.
Once you have determined if a child or person qualifies for any of the three child tax credits, create a free eFile.com account and prepare a return for the detailed Additional Child Tax Credit amount. Only on eFile.com can you view your tax return via a PDF file at any point before you e-file your taxes with the IRS and/or state tax agency.
eFile.com will calculate all your tax credits for you. Thus, you will not have to complete complicated IRS forms. If you wish to calculate your Child Tax Credit, other dependent credit, or Additional Child Tax Credit, use Form 8812.
- Note: The IRS has stated - see Schedule 8812 Instructions page 1 - that they can not issue refunds before the middle of February 2023 for returns that properly claim the ACTC. This time frame applies to the entire refund, not just the portion associated with Advanced Child Tax Credit.
- If a taxpayer erroneously claims (due to reckless or intentionally wrong statements) the Child Tax Credit (CTC), the Advanced Child Tax Credit (ACTC), or the Credit for Other Dependents (ODC), the taxpayer might not be allowed to claim any of these credits for two years even if the taxpayer might be otherwise eligible for them. If it is determined that an error was due to fraud, the taxpayer will not be allowed to claim any of these credits for ten years, and penalties might apply. See more details on wrongly claimed dependents and credits.
- Learn more about the Child Tax Credit, Other Dependent Credit, and Additional Child Tax Credit: Schedule 8812.
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