ACTC
Business & Finance abbreviation · Tax
| Stands for | Additional Child Tax Credit |
|---|---|
| Categories | Business & Finance |
ACTC stands for Additional Child Tax Credit, a tax abbreviation.
Refundable portion of the Child Tax Credit, paid to families whose credit exceeds their income tax liability and calculated at 15% of earned income above $2,500, up to a per-child cap. It is claimed on Schedule 8812.
Example: Our tax was only $900, so the rest of the credit came back as ACTC in our refund.
Usage notes
Like the EITC, refunds that include the ACTC cannot be issued before mid-February. The per-child refundable cap has been indexed for inflation since 2018.
Related abbreviations
More tax abbreviations
- 501(c)(4) – Social welfare organization (Internal Revenue Code section 501(c)(4))
- 83(b) – Section 83(b) election
- 940 – Employer's Annual Federal Unemployment (FUTA) Tax Return (IRS Form…
- 941 – Employer's Quarterly Federal Tax Return (IRS Form 941)
- 990 – Return of Organization Exempt From Income Tax (IRS Form 990)
- ABN – Australian Business Number
- AGI – Adjusted gross income
- AMT – Alternative minimum tax
- AOTC – American Opportunity Tax Credit
- AY – Assessment year
- CGT – Capital gains tax
- CP2000 – IRS Notice CP2000 (proposed adjustment to income tax return)