Child Tax Credit

The Child Tax Credit is a financial benefit provided by the U.S. government to help families with the costs of raising children. It allows eligible parents or guardians to claim a credit on their income tax return, which reduces the amount of taxes they owe. The credit is designed to support families financially, making it easier to cover expenses related to caring for children. The amount of the credit may vary based on factors such as income level and the number of children in the household. Changes to the credit can occur with different tax laws and policies.