From www.irs.gov:  IRS Tax Tip 2014-11
Your children may help you qualify for valuable tax benefits. Here are eight tax benefits parents should look out for when filing their federal tax returns this year.
1. Dependents.  In most cases, you can claim your child as a dependent. This applies even if your child was born anytime in 2013. For more details, see Publication 501, Exemptions, Standard Deduction and Filing Information.
2. Child Tax Credit.  You may be able to claim the Child Tax Credit for each of your qualifying children under the age of 17 …