2009, 2010 Child Tax Credit Information & Calculator

If you have children who are under 17 as of the end of the tax year, you can get a $1,000 tax credit per child on your tax return.

Because this is a credit, not a deduction, you get to take those dollars right off your tax bill. That makes this much better than a deduction would be, which would just reduce the income you use to determine taxes.

And the credit does not affect the exemptions you take for dependents. The credit is in addition to your exemptions.

To claim the credit you must meet these tests, to qualify for the credit: Learn More