How Much Could You Get for the Child Tax Credit Next Year?

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Child Tax Credit Next Year: According to the latest report, around 48 million adults benefit from the Child Tax Credit, which provides financial support to low-income families to help cover the cost of raising children.

Families with eligible dependents under 17 can claim this credit as a non-refundable tax benefit. The IRS announced that for the fiscal year 2025, the Child Tax Credit will amount to $1,700 per month. This amount, typically claimed on tax returns filed in 2026, will also be maintained for the fiscal year 2024, with returns due in early 2025.

Who Qualifies for the Additional Child Tax Credit? Eligibility criteria and more

How is the Child Tax Credit claimed?

A variety of requirements must be fulfilled in order to qualify, including the child’s age, relationship to the applicant and income conditions.

The Child Tax Credit Worksheet, which is located in the instructions for Form 1040 or 1040-SR, must be completed in order to claim it on the federal tax return. The following conditions must be fulfilled:

  • Prior to the due date of your tax return (including extensions), a qualifying child must have a Social Security Number that has been issued by the Social Security Administration.

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  • At the end of the tax year, the qualifying child must be younger than 17.
  • Fulfill the residency and relationship requirements for a standardized definition of a qualifying child.
  • Not supporting themselves more than half of the time during the tax year.
  • Have lived with you for more than half of the tax year, for exceptions for birth or death during the year, temporary absences, kidnapping or disappearance, or children of divorced or separated parents.
  • Being claimed as a dependent on your return.
  • Not file a joint return for the year (or file the joint return only to claim a refund of withheld or estimated taxes).
  • Be a U.S. citizen, U.S. national or U.S. resident alien
  • You must have a Social Security Number issued by the Social Security Administration before the due date of your tax return (including extensions).

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