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Child Tax Credit

If you have children who are under age 17 as of the end of the tax year, you can get a $1,000 tax credit per child on your tax return. A tax credit reduces your tax bill dollar for dollar, so three qualifying children, for example, can cut what you owe Uncle Sam by $3,000. The credit may be limited if your income exceeds certain levels. And the credit does not affect the exemptions you take for dependents. The credit is in addition to your exemptions. Read Entire Article