Is Ctc Refundable 2024 Tax Year. The expanded ctc would provide up to a $6,000 newborn tax credit for the first year of a child’s life, $3,600 for children two through five, and $3,000 for children six. For the 2024 tax year, taxpayers are eligible for a credit of up to $2,000 — and $1,700 of that will be potentially refundable.

The expanded ctc would provide up to a $6,000 newborn tax credit for the first year of a child’s life, $3,600 for children two through five, and $3,000 for children six. Up to $1,600 of the credit is refundable in the 2023 tax year, rising to $1,700 in 2024.