Change in the income limit for the CTC 2025: Thousands of people will no longer collect it

• Age: The child must have been under the age of 17 at the end of the tax year.
• Relationship: The child you are claiming must be your son, daughter, stepchild, foster child, brother, sister, half-brother, half-sister, stepbrother, stepsister, or a descendant of any of these individuals (e.g., a grandchild, niece, or nephew).
• Dependent status: You must be able to claim the child as a dependent. Additionally, the child cannot file a joint tax return unless it s to claim a refund of withheld income taxes or estimated taxes paid.
• Residency: The child must have lived with you for at least half the year, though there are some exceptions to this requirement.
• Financial support: You must have provided at least half of the child s financial support during the year. If the child financially supported themselves for more than six months, they may not qualify.
• Citizenship: According to the IRS, your child must be a U.S. citizen, U.S. national, or U.S. resident alien and must have a valid Social Security number.
• Income: Parents or caregivers claiming the credit must also meet certain income limits. As income exceeds the threshold, the credit is gradually reduced and may eventually be eliminated.

The CTC and other government assistance programs are vital economic pillars that ease financial strain brought on by growing living expenses.

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