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Child Tax Credit

The Child Tax Credit is a credit offered by the IRS that may reduce your tax liability by as much as $1,000 for each of your qualifying children. However, it is important to note that the Child Tax Credit is a nonrefundable credit...

What is a "Qualifying Child"?

A “ qualifying child ” may enable a taxpayer to claim several tax benefits, such as Head of Household filing status, the exemption for a dependent, the child tax credit, the child and dependent care credit and the earned income...

How do I claim the Additional Child Tax Credit?

This credit is automatically calculated by the TaxSlayer software based on the information entered in your return. To see the result of your Additional Child Tax Credit, please select "Summary" from the navigation bar followed by "Show

Ten Tips on Tax Credits for Child and Dependent Care Expenses

If you paid someone to care for your child, spouse, or dependent last year, you may qualify to claim the Child and Dependent Care Credit when you file your federal income tax return. Below are 10 things the IRS wants you to know about...

Are My Child's Summer Camp Expenses Tax Deductible?

who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Here are five facts the IRS wants you to know about a tax credit available for child care expenses. The Child...

Child's Interest/Dividend Earnings (Form 8814)

Form 8814 will be used if you elect to report your child's income on your tax return. If you choose this election, your child will not have to file a return. If your child meets all of the following conditions, you can make this election...

Georgia Adoption of a Foster Child Credit

Georgia provides an income tax credit for the adoption of a qualified foster child. The amount of the credit is $2,000.00 per qualified foster child per taxable year, commencing with the year in which the adoption becomes final, and ending...

Minnesota Child and Dependent Care Credit

not have actual child care expenses, you may still be eligible if you meet one of the following conditions: you are married and filing a joint return, your child was born in 2014, and you did not participate in a pre-tax dependent care...

MN M1CD, Child and Dependent Care Credit

not participate in a pre-tax dependent care assistance program; or • you were an operator of a licensed family day care home caring for your own child who had not reached the age of six years at the end of the year. Penalty for Fraudulently...

New Mexico Child Day Care Credit

The Child Day Care Credit may not exceed $1,200 ($600 for a married taxpayer filing a separate return). To claim the credit you must: have a Modified Gross Income of $30,160 or less; be a resident of New Mexico during the tax year; furnish...