N323 Tax Blank 2023-2024 Form

Instructions and help about hi n323 carryover

having children can be one of the most rewarding and best things in life if you're a parent you probably already know that let's face it it can also be a little bit expensive luckily the government offers something called the child tax credit aka the CTC which can be extremely beneficial if you have children the child tax credit is an amount of money that the federal government allows you to subtract dollar for dollar from the income taxes that you owe at the end of the year simply due to the fact that you have children who are dependent on you Carlton how much is this child tax credit well for 2023 the maximum child tax credit per qualifying child is $2,000 that means that for every child you have who is eligible you'll be able to knock $2,000 off your tax bill not bad right so let's talk about the eligibility requirements in order for your child to qualify for the to tax credit they must follow these six rules that I'm about to discuss rule number one they must be under the age of 17