Nonrefundable tax credits can only be used against taxes that you owe -- once your tax bill hits $0, you don't get the ...
Meanwhile, the additional child tax credit, or ACTC, is up to $1,700 for 2024. Both tax breaks are "refundable," meaning ...
Some tax credits are refundable, meaning you can be paid for the value of the credit even if it exceeds your tax liability. Most credits have very specific eligibility requirements and may target ...