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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 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 ...Who qualifies for new child tax credit?
To be eligible for the Child Tax Credit, the child or dependent must: be 16 years or younger by the end of the tax year; be a US citizen, national, or resident alien; have lived with the taxpayer for more than half of the tax year. be claimed as a dependent on the federal tax return.