In 2026, Americans may receive up to $2,200 per child through the Child Tax Credit, with up to $1,700 being refundable. Eligibility requires the child to be under 17, a US resident for over half the year, and possess a Social Security number. Families typically claim this credit using Form 1040 and Schedule 8812. The IRS has also increased 401(k) contribution limits for 2026, allowing higher tax-sheltered savings.