Child Tax Credit for 2023

Child Tax Credit
For 2023

Attention: This Child Tax Credit Calculator is for tax year 2023; see this year's CTC calculator.

This CHILDucator will let you know if you qualify for the Child Tax Credit and/or the Other Dependent Tax Credit on your 2023 Tax Return; the amounts are also included. The Additional Child Tax Credit or ACTC requires information that is based on your 2023 Tax Return.

Use the eFile Tax App to calculate all three child or dependent-related credits for your 2023 year tax return.

Was the Child Tax Credit Refundable in 2023?

The Child Tax Credit or CTC is a partially refundable tax credit - in 2021 only, it was fully refundable. Use the tool below to calculate the refundable and nonrefundable portion of your 2023 CTC. When you file online with eFile.com, your CTC is calculated for you and both the refundable and nonrefundable portions are claimed - current year returns only.

There are three parts to the Child Tax Credit:

• The Child Tax Credit or CTC - up to $2,000 for each qualifying child
• The Credit for Other Dependents or ODC - $500 for each qualifying individual
• The Additional Child Tax Credit or ACTC - up to $1,500 for qualifying individuals.

The CTC and ODC are non-refundable tax credits and the ACTC is a refundable tax credit that can be claimed on your next tax return.

What Is the Child Tax Credit?

After using the CHILDucator above, we strongly recommend using the CAREucator or Child and Dependent Care Credit Calculator to determine if you might qualify for this other tax credit in case you paid child or dependent care expenses.

For this year's return: once you have determined if a child or person qualifies for any of the three child tax credits, create a free eFile.com account and prepare a return for the detailed Additional Child Tax Credit amount. Only on eFile.com can you view your tax return via a PDF file at any point before you e-file your taxes with the IRS and/or state tax agency.

eFile.com will calculate all your tax credits for you. Thus, you will not have to complete complicated IRS forms. If you wish to calculate your Child Tax Credit, other dependent credit, or Additional Child Tax Credit, use Form 8812.

• If a taxpayer erroneously claims (due to reckless or intentionally wrong statements) the Child Tax Credit (CTC), the Advanced Child Tax Credit (ACTC), or the Credit for Other Dependents (ODC), the taxpayer might not be allowed to claim any of these credits for two years even if the taxpayer might be otherwise eligible for them. If it is determined that an error was due to fraud, the taxpayer will not be allowed to claim any of these credits for ten years, and penalties might apply. See more details on wrongly claimed dependents and credits.
• Learn more about the Child Tax Credit, Other Dependent Credit, and Additional Child Tax Credit: Schedule 8812.

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