What is the Child Tax Credit?

The Child Tax Credit is designed specifically as a tax benefit for taxpayers with qualified dependents who are under the age of 17. This credit reduces the amount of federal income tax owed by taxpayers and is intended to provide financial relief to families raising children. Through this program, families can claim a credit for each qualifying child, thereby lowering their tax liability and potentially increasing their refund.

To qualify for the Child Tax Credit, certain criteria must be met regarding the child's age, relationship to the taxpayer, and residency, among other factors. This makes it clear that the scope of the credit targets families with younger dependents, which is why the identification of the credit as applicable to dependents under 17 is accurate.

Other options don't align with the specific nature of the Child Tax Credit. For instance, it isn’t designed for taxpayers over 18 or a rebate based on total income, nor does it function as a deduction for child care expenses.