The Taxpayer Relief Act of 1997 (P.L. 105-34) was the inception of the child tax credit (CTC), which was created to ease the financial burden to families with children. Over the years, the CTC has expanded from an upper- and middle-class benefit, to a tax benefit that lower-income families can claim. The CTC allows taxpayers to reduce their federal income liability up to $2,000 per child aged 0-16 years of age. In the event the value of the credit exceeds the amount of tax a family owes, the family may be eligible to receive a full or partial refund of the difference.