Did you claim the child tax credit?
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rickie
Apprentice
Joined: 25 Jan 2006
Posts: 1
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 Posted: 11/03/08 - 05:58 Post subject: |
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I have recently been looking to get some information about how exactly care credits work. In fact, there are pretty important reasons why I need to make this as clear as possible, and it seems to me that is it pretty complicated. In short, there is one thing I would like to know. Did you claim the child tax credit?
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wait
Apprentice
Joined: 21 Aug 2007
Posts: 1
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| Posted: 11/13/08 - 04:39 Post subject: |
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Handling any kind of work with IRS is pretty important indeed, and you need to be very careful with them. I would recommend that you, by all means, go directly to your IRS office and speak to some of the experts there. However, what I can tell you for sure, is that you should be working full time, and being married (spouse also working full time) in order to certainly get the child tax credit and dependent care credit. There are other conditions as well, but this one is the most important. Hope this helps.
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hal
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Joined: 07 Sep 2005
Posts: 1
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| Posted: 11/23/08 - 03:21 Post subject: |
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Child tax credit, as well as dependent care credit are both quite important for a home budget, so it is not unusual for you to seek it. Now, aside from being a full time worker, you need to satisfy several conditions that will guarantee your getting the credits. First, the child has to be unable to function on its own, needing help which you pay, and then get a sort of refund. The child has to be older than 13, and it also goes if your spouse is in question. I hope you find the info helpful. Best of luck.
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cynthia
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Joined: 02 Sep 2008
Posts: 1
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| Posted: 12/03/08 - 02:02 Post subject: |
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| The less you earn, the more will rise the percentage of your full income that could be reimbursed, the fact being that you set out more money (in ratio) for paying care and dependents. Now, filing is crucial and you need to do it properly. It has to be in your name, if you are divorced, or a widow(er), and if you are simply separated, you need to make a joint filing. Now, what you pay is a taxable income, but as such, you may get it back, as well. There may be difficulties if you need to collect a child support from a spouse who does not want to pay it, but the court is the only address you can turn to. You can find more info about these credits, and income ratios at http://www.irs.gov/newsroom/article/0,,id=106189,00.html. |
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