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 to expect child tax credit?
In short, once the January 28, 2019 date of initial IRS tax receipt processing commences, you should expect to receive payment with 2-3 weeks if you e-file, but you will have to wait until late February if you claim the earned income child tax credit or additional child tax credit, and if you mail in your tax payments, you will have to wait at least ...When does the child tax credit begin?
The child tax credit, or CTC, was introduced by 1997 legislation and was first available in 1998. It started as a small, nonrefundable credit of $400 for each qualifying child under 17. In the last 20 years, it has undergone many changes.