Today TaxMama hears from Mark in Pennsylvania, with a good question. “Is the Child Tax Credit of $1000 per child still in effect for 2010? I have 5 kids that qualify for the credit and I changed my W-4 to exempt several years ago since I continue to get a large refund. I need to change my W-4 if the Child Tax Credit has expired.”
It was easy to find information about 2009: http://www.irs.gov/publications/p972/
But to verify that the credit is still available in 2010 took a lot longer. Good news! Yes, you still have it for 2010, as a result of the American Recovery and Reinvestment Act of 2009.
As long as your income is low enough, you have no worries.
Although, you can claim the Additional Child Tax Credit, if your income was too high for the Child Tax Credit. Use Form 8812.
And remember, you can find answers to all kinds of questions about tax credits and other tax issues, free. Where? Where else? At TaxMama.com.[Note: If you were subscribed to the e-mailed TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the subscribe link and join us.]
- Ask TaxMama :: Where taxes are fun and answers are free
- www.TaxQuips.com :: The number ONE free tax podcast online
- IRS Publication 972 :: Child Tax Credits
- IRS FAQs :: ARRA and the Additional Child Tax Credit
- IRS Form 8812 :: Additional Child Tax Credit