US Family Tax Credits
What the EITC, CDCTC and CTC Can Mean For You
There are several tax credits that you may be able to take advantage of when you file depending on your family and financial situation. If you do qualify for them then you can select to take the credit during the filing process.
Earned Income Tax Credit
The Earned Income Tax Credit (EITC) lowers your taxes based on how much money you make. If you qualify, you can use the credit to reduce the taxes you owe – and maybe increase your refund.
Am I Eligible?
You may claim the EITC if your income is low- to moderate. The amount of your credit may change if you have children, dependents, are disabled or meet other criteria.
Child and Dependent Care Tax Credit
The Child and Dependent Care Tax Credit (CDCTC) lowers your taxes based on how much you spend on childcare. The credit is calculated based on your income and a percentage of expenses that you had for the care of your dependents to enable you to go to work, look for work, or attend school.
Am I Eligible?
- You may be eligible to claim the child and dependent care credit if you paid expenses for the care of a dependent to enable you (and your spouse, if filing a joint return) to work or actively look for work.
- You (or your spouse if filing a joint return) lived in the United States for more than half of the year. However, special rules apply to military personnel stationed outside of the United States.
- You can use the IRS’s eligibility tool to see if you qualify by clicking below.
See If You Qualify
Child Tax Credit
The Child Tax Credit (CTC) lowers your taxes based on how many kids under 17 are in your household. You can claim the Child Tax Credit for each qualifying child who has a Social Security number that is valid for employment in the United States.