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To calculate the tax credit for childcare expenses, multiply your qualifying expenses by the tax credit rate for your family income. The amount of your qualifying expenses is the lesser of the following: your childcare expenses that qualify for the credit for the year; the childcare expense limit.When will we get child tax credit?
You may qualify for the Child Tax Credit as long as a dependent child is under age 17. If you have to pay for a caregiver so you can work, you may be eligible for the Child and Dependent Care Credit until a child is 13 years old.Do I get child tax credit?
You may be eligible for the earned income tax credit thanks to your baby. The earned income tax credit (EITC) isn't a credit you get specifically for having a child. Instead, it's a credit for lower-income families. However, having a child significantly raises the amount of income you can earn and still be eligible for the EITC.