It’s TaxQuips time from TaxMama.com® – today TaxMama® wants to tell you about resources that are opening up for you on the IRS website. Dear Family, The IRS was busy last week, issuing announcements people have been waiting for about the advance payment of the Child Tax Credit this summer. The […]
Category Archives: Child Credit
Today TaxMama® hears from Gary in the TaxQuips Forum with a brilliant observation. “I was working on a tax return for a married couple with income too high to receive the $1,000 Child credit. I have found (just recently) that if one of the spouses has a much lower income, or no income, filing them […]
Your kids can be helpful at tax time. That doesn’t mean they’ll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits. Here are 10 things the IRS wants parents to consider when filing their taxes this year.
Today TaxMama is watching a discussion in the TaxQuips Forum. It’s about what happens after a divorce and the family is fighting over who gets to claim the child as a dependent.
Dear Family, This week went by so quickly, I didn’t even have time to blink. Perhaps not so for some people. Working on an article, I called the IRS DC press office one morning, only to get the answering service message that the office was closed. So contacted a couple of those cool guys by […]
Today TaxMama hears from Charlotte in the TaxQuips forum, who tells us. “We adopted my niece’s 2 children this year. But my husband’s Social Security income wasn’t taxed. So how do I get the child income tax credit? or can I? I don’t work.”
Today TaxMama hears from Linda in La Mesa, Calif – near the Mexican border. “If a dependent is a U.S. Citizen and a resident of Mexico, do they qualify for the child tax credit or the additional child tax credit?”
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 […]
Today TaxMama hears from Anthony in North Carolina with this story. “My son’s pregnant girlfriend moved in, back in May and the baby was just born. My question is, will I be able to claim both of them, girlfriend and baby, on my 2009 taxes? If so will I get the child tax credit for […]
Today TaxMama hears from Melissa in Texas with this question. “ I would like to sign up for my employer’s cafeteria plan for the preschool child care expenses. It will allow me to pay for about $5,000 of the child care tax free. But my son’s daycare is over $11,000 a year. Can I claim […]
Today TaxMama hears from Brad in Missouri who needs to decide. “I’ve got a question about childcare while we work. I can either pay a local teen $60/week cash or a mom $75/week. The teen doesn’t file taxes and thus I don’t think I can deduct it without forcing her to file, correct? The $75/week […]
Many parents 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 and Dependent Care Credit is available for expenses incurred […]