Child tax credit: Who's filing? - BusinessPostCorner.com

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Taxpayers must meet certain criteria to qualify for claiming the Child Tax Credit for the 2023 tax year, including having an eligible child dependent under 17 at the end of the year.

This child would have to live with the taxpayer for more than half of the year, and the taxpayer must have an annual income of no more than $200,000 if filing individually or $400,000 if filing a joint return.

Those in the middle-income groups are more likely to receive refundable CTC, with those earning between $50,000 and $75,000 filing 1,679,026 refundable CTC claims and receiving a total of $3,328,405,000 in refunds.

Read more about who is filing for the CTC.

Source: IRS

CTC	Nonrefundable CTC and/or credit for other dependents (number of returns)	Nonrefundable Child Tax Credit and/or credit for other dependents (In thousands of $)	Refundable CTC or additional CTC (number of returns)	Refundable CTC or additional CTC (in thousands of $)
Total returns	32,811,563	71,248,788	15,277,469	29,609,163
No AGI and deficit	4,599	1,402	197,930	350,834
$1 to under $5,000	9,713	2,267	210,009	62,624
$5,000 to under $10,000	18,890	5,420	698,289	557,930
$10,000 to under $15,000	132,535	20,981	1,600,870	2,363,661
$15,000 to under $20,000	419,301	134,678	2,022,117	3,893,921
$20,000 to under $25,000	1,249,919	386,193	1,811,237	4,029,020
$25,000 to under $30,000	1,507,218	911,171	1,623,279	3,674,698
$30,000 to under $40,000	3,834,277	4,040,787	3,160,016	6,561,128
$40,000 to under $50,000	3,376,158	5,556,817	1,813,281	3,899,475
$50,000 to under $75,000	5,863,481	13,125,507	1,679,026	3,328,405
$75,000 to under $100,000	4,126,846	11,267,009	352,767	631,380
$100,000 to under $200,000	8,739,643	25,504,285	105,668	248,143
$200,000 to under $250,000	1,567,643	4,613,365	1,755	4,757
$250,000 to under $500,000	1,952,530	5,667,612	1,222	3,183
$500,000 to under $1,000,000	8,810	11,294	3	4
$1,000,000 or more	0	0	0	0