There are also restrictions to who you can claim under the expanded child tax credit. In order to claim your child or children, you must:
- Have a valid Social Security number for your child
- Be related to the child
- Have had your child live with you for at least half the year
- Provide more than half of your child’s financial support — including things like housing, food, education costs, utilities, and clothing
These payments stand to make a huge impact for families across the nation. According to the Institute on Taxation and Economic Policy, qualifying families will receive an average of about $2,750 from this expansion, and about 83 million households will benefit from it. Read more
