Child Tax Credit 2023: Up to $3,900 Stimulus Checks— See Who Receives Them

Up to $3,900 can be claimed in Child Tax Credit 2023 this year. In this article, read and find out who can receive these tax credits!

For several years, the U.S. federal government and the Internal Revenue Service (IRS) issues millions of stimulus checks to provide financial assistance to American citizens. Among these stimulus checks is one type of stimulus payment that is issued every year to one group of Americans only.

According to Quirós Villalba, this stimulus payment is called the Child Tax Credit 2023. This stimulus payment is issued by the IRS to families that meet the eligibility requirements. The Child Tax Credit is actually a tax refund, therefore, it is not needed to be reported as an income to the IRS.

READ ALSO: Looking Back: How The Child Tax Credit Expansion Lifted Millions Of Children Out Of Poverty

Who will receive the Child Tax Credit 2023?

In addition, an applicant must not earn an adjusted gross income (AGI) of more than $150,000. This is the case for tax filers who are a couple and filing jointly. However, for parents who are filing separately and heads of households, the income limit for each parent is $112,500. For individual filers, the AGI must be less than $75,000.

The amount of Child Tax Credits will be up to $1,200 for individuals and up to $2,400 for couples. $500 will be received for every additional child of up to three. When the AGI exceeds the income thresholds, the tax rebates will be reduced by $5 for every $100 excess.

READ ALSO: Expanded Child Tax Credit 2023: Biden Administration Calls To Reinstate Program