Child Tax Credit
Overview
The Child Tax Credit (CTC) helps qualifying parents with children under the age of 17 offset the cost of everyday household expenses.
CTC is designed to ensure that the tax code reflects the fact that families have more expenses and less disposable income than individuals and couples with the same income who don’t have children. Parents can use this credit for any expense, even those unrelated to the cost of raising children.
Top
Resources
FFYF Capsule Collection: Tax Policy and Child Care
Millions of American families today are struggling to find the affordable, reliable, quality child care they depend on to go to work. This has a devastating impact on our youngest …
Understanding the Difference Between the Child Tax Credit and the Child and Dependent Care Tax Credit — and Why We Need Both
Child care is not a luxury for American families – it’s a necessity. Yet the high costs associated with quality child care are rapidly out-pacing most other expenses faced by …
The First Five Things To Know About: The Federal Tax Code and Child Care
Millions of American families are struggling to find the affordable, reliable, quality child care they depend on to go to work. This has a devastating impact on our youngest learners, …
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Updates
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Parents Received $1.5K More Under Temporarily Expanded Child Care Tax Credit
WASHINGTON, D.C. – First Five Years Fund’s new analysis of government data has found that previous expansions of the only tax credit designed to offset child care costs saved …
Bipartisan Agreement on the Importance of Child Care Access and Affordability in Senate Finance Hearing
The Senate Finance Committee held a hearing this week to discuss ways to leverage Congressional investments in early learning and child care to better support working families and child care …
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