Wouldn’t it be nice to add a thousand dollars to your pocket around tax time, I mean did you know that you could qualify for a child tax credit and for each child that qualifies you could get up to a thousand dollars? That is what I call a tax break.
Online tax return calculators help claim valuable tax credits
Are you eligible to claim the child tax credit? You can find out in a few simple steps by using an online tax estimator to get an idea of how your tax return will look this year.
Ok so how do you know if your children qualify for this tax credit? The first thing is to make sure you understand some basics about the qualification guidelines. The child tax credit calculator will assist you with process and you can use this tool for free.
Guidelines for children and dependents
Is your child or dependent under the age of seventeen, do they have a direct relationship to you e.g.; son, daughter, brother, sister, a step child, an adopted child, there is also a citizenship test to pass and if all the above is good then congratulations under the child tax credit minimal guideline’s you have qualified to receive up to a thousand dollars per child or dependent.
IRS publications provide information about tax credits
The child tax credit worksheet will walk you through the steps to arrive at your credit amount. Please bear in mind you will need to refer to the IRS Publication 972, Child Tax Credit, to check such things as any residency exceptions or limitations regarding your annual income, if you wish to know more about being eligible to claim the child tax credit you can use online tax software such as, TurboTax.
By answering simple interview style questions the tax software will automatically determine if you qualify or not. You may even be eligible for tax deductions and credits you don’t about.
Filing your taxes online has never been easier than it is today by using tax software. If you would like the guarantee of claiming the entire child tax credit, visit TurboTax to claim your full tax credit today!