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Additional Child Tax Credit

   Also found in: Wikipedia 0.01 sec.
Additional Child Tax Credit
A refundable credit available to taxpayers with three or more children qualifying for the child tax credit or whose earned income exceeds a specified amount and whose regular child tax credit exceeds tax liability minus other nonrefundable credits. The additional child tax credit is computed on Form 8812. For current figures, see our Child Tax Credit rate table. Also, see Child Tax Credit.


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Caution: those who choose an optional method may see their SE taxes increase but this may also qualify them for the earned income tax credit, additional child tax credit, child and dependent care credit or self-employed health insurance deduction.
Refundable credits include Earned Income Tax Credit, Additional Child Tax Credit, and Health Coverage Tax Credit.
 
 
 
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