You can only take the CTC up to the amount of the taxes you owe. So if you don't owe enough to pay taxes, then you don't get the CTC. There is something called the additional child tax credit, though, that would most likely give you some of the rest of the $1000 per child. CTC isn't a deduction, it's a credit, and that means that whatever you get does come dollar for dollar off your tax bill.
by Judy - an hour ago
The Child Tax Credit only reduces your tax liability. The maximum CTC you can claim helps to reduce your tax to the lowest amount possilbe. The EIC and Additional Child Tax Credit, on the other hand, are fully refundable and increase your refund.
by Celeste - an hour ago
The 2 answerers above me have it correctly. This is a child tax credit, so it counts againest the tax you pay. What is the total tax paid? Is it less than $3000? Then that is why you got less back, you cannot get more back as a credit then what you owe. In my situation, I am a stay at home mother of 4 children, my husband works. We have a gross income of $75,000 with a net income after deductions of $40,000. His job withheld $5500 for federal taxes, we owe only $1400 based on our net income, after our $4000 child tax credit($1000 per child) is deducted for our children. We are getting $4100 back.
by Chris L. - an hour ago
$1000 is the most you can get back per kid but it is all based on how much you make
by ALAYNA - an hour ago
because there is a limit depending on your taxable income, but the unused amount goes into additional child tax credit, if you exceed the child tax limit per child
by Patricia - an hour ago
The EIC is not "$1000 per child". It's a certain percentage of your income, and there is one percentage for people with no children, another percentage for people with one child, and another percentage for people with two or more children. So whether you have two or three, the percentage would be the same. The EIC is a credit and the amount is taken directly off the tax you owe. You also get to claim exemptions for each child you have. That is not a credit -- it is an amount that is subtracted from your income before you figure out how much tax you owe. Credits and exemptions are two different things.
by rtfm - an hour ago
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