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Child Tax Credit

A tax benefit that reduces the amount of income tax a taxpayer owes for each qualifying child they claim, designed to help families with the costs of raising children.

Social Security Number (SSN)

A nine-digit number issued to U.S. citizens and legal residents by the Social Security Administration, primarily for tracking earnings and benefits.

Internal Revenue Code of 1986

The main body of federal tax law in the United States, which the IRS uses to administer taxes.

Taxable year

The annual accounting period for which individuals and businesses report their income and file tax returns, typically the calendar year.

Qualifying child

A child who meets specific IRS criteria (such as age, relationship, residency, and support tests) to be claimed for tax benefits like the Child Tax Credit.

Joint return

A single tax return filed by a married couple that reports their combined income and deductions.

Individual Taxpayer Identification Number (ITIN)

A tax processing number issued by the IRS to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security Number.