What Is the Child Tax Credit?

The Child Tax Credit gives you up to $2,000 per qualifying child under age 17. Up to $1,700 of it is refundable (meaning you can get it back even if you owe no tax) through the Additional Child Tax Credit. The credit phases out at higher incomes. Your child must have a valid Social Security number to claim the credit. This credit can significantly reduce your tax bill if you have children.