The child tax credit is a dollar-for-dollar reduction in taxes owed and is intended to make caring for children or qualifying dependents more affordable.

Credit amounts may change annually, are usually dependent on total family income and size, and may be subject to maximum income or child care spending limitations. Consult your tax advisor, the IRS, and state revenue officials to determine and/or confirm eligibility.

Under current federal law, eligible families can claim child care tax credits up to:

• $2,100 from the federal Child and Dependent Care Tax Credit (up to $1,050 for each of your first two children; the exact amount depends on your income and actual child care expenses);

• $2,000 per child from the federal Child Tax Credit; and

• $6,660 from the federal Earned Income Tax Credit. (The exact amount depends on income)