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If the child tax credit exceeds the taxpayer’s Federal
income tax liability for the taxable year, a portion of the child
tax credit may be refundable as an “additional child tax credit”
under section 24(d)(1). For 2003, the additional child tax
credit is allowed in an amount that is the lesser of the
remaining child tax credit available or 10 percent of the amount
by which the taxpayer’s earned income exceeds $10,500. Sec.
24(d)(1)(A) and (B), (d)(3); Rev. Proc. 2002-70, sec. 3.04, 2002-
2 C.B. at 847. The refundable and nonrefundable portions of the
child tax credit cannot exceed the total allowable amount of the
credit.
Petitioner is not entitled to claim an additional child tax
credit because he did not qualify for a child tax credit.
Reviewed and adopted as the report of the Small Tax Case
Division.
To reflect the foregoing,
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011