Core Points - There are several tax credits available exclusively to parents and guardians to help ease the costs of raising children [1] - The Child Tax Credit (CTC) was increased from $2,000 to $2,200 per dependent child under 17 [2] - The CTC is partially refundable up to $1,700 per child for parents who do not owe any tax, with phase-out thresholds set at $400,000 for married filing jointly and $200,000 for other filers in 2026 [3] - The Child and Dependent Care Tax Credit is often overlooked and can save families several hundred dollars, allowing claims of up to $3,000 for one child or $6,000 for two or more children [4][5] - The amount claimable under the Child and Dependent Care Tax Credit is a percentage of total qualifying childcare expenses, up to 50%, based on income [6] - The Earned Income Tax Credit (EITC) can provide up to $8,046 for a family with three kids, but one out of five eligible individuals miss this credit [6]