How To Get A Working Child Tax Credit
If you have a child, then you need to know how to get a working child tax credit. As the tax season approaches slowly, so does the need for tax deduction. The working child tax credit is one of the most common and most beneficial tax credits for most of middle class American family. In this article, we will help you to learn and find out about getting a working child tax credit.
- How much can you get per child? Well, that is a rather complicated question, and there is no simple answer to that. The working child tax credit has changed so much over the year. However, the general rule of thumb is that How much you can get per child depends on your income bracket. In a nutshell, the more you make, the less you get. According to IRS, you can get up to 1,000 deducted from your federal tax per child on the working child tax credit.
- How do you qualify for child tax credit? You will need to have a qualified child that successfully pass the following tests in order to get working child tax credit, including age, support, dependency, citizenship, and residency test. First, a child must be under the age of seventeen. Second, you have to have a parental or guardian relationship with the child, such as son, daughter, step daughter, etc... You must claim the child as dependent, and the child must be an citizen, national, or residential alien. Lastly, the child must live with you for more than six months per year.
- How do you get money back? If the amount of your working child tax credit exceed the amount of tax you must pay, then you will get the tax credit in the form of a tax refund.
- Still confused? Do not worry, there is help. According to IRS, you can read their publication 972 for working child tax credit details. If you prefer to talk to a person, you can call IRS at 800-TAX-FORM for more information.