{"id":1147,"date":"2013-02-27T14:29:56","date_gmt":"2013-02-27T19:29:56","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=1147"},"modified":"2013-02-27T14:30:38","modified_gmt":"2013-02-27T19:30:38","slug":"save-money-with-the-child-tax-credit","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=1147","title":{"rendered":"<a href=http:\/\/www.hoorfarlaw.com>Save Money with the Child Tax Credit<\/a>"},"content":{"rendered":"<p><a href=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/02\/TAX-CREDIT1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-thumbnail wp-image-1152\" title=\"TAX CREDIT\" src=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2013\/02\/TAX-CREDIT1-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p>If you have a child under age 17, the Child Tax Credit may save you money at tax-time. Here are some facts the IRS wants you to know about the credit.<\/p>\n<ul>\n<li><strong>Amount.<\/strong>\u00a0 The\u00a0\u00a0non-refundable Child Tax Credit may help reduce your federal income tax by\u00a0up to $1,000 for each qualifying child you claim on your return.<\/li>\n<li><strong>Qualifications.<\/strong>\u00a0 For this credit,\u00a0a qualifying child must pass seven tests:<\/li>\n<\/ul>\n<p>1.\u00a0<strong>Age test.<\/strong>\u00a0 The child must have been under age 17 at the end of 2012.<\/p>\n<p>2.\u00a0<strong>Relationship test.<\/strong>\u00a0 The child must be your son, daughter, stepchild, foster child, brother, sister, stepbrother, or stepsister. A child may also be a descendant of any of these individuals, including your grandchild, niece or nephew. You would always treat an adopted child as your own child. An adopted child includes a child lawfully placed with you for legal adoption.<\/p>\n<p>3.\u00a0<strong>Support test.\u00a0<\/strong> The child must not have provided more than half of their own support for the year.<\/p>\n<p>4.\u00a0<strong>Dependent test.\u00a0<\/strong> You must claim the child as a dependent on your federal tax return.<\/p>\n<p>5.\u00a0<strong>Joint return test.\u00a0 <\/strong>The child cannot file a joint return for the year, unless the only reason they are filing is to claim a refund.<\/p>\n<p>6.\u00a0<strong>Citizenship test.\u00a0 <\/strong>The child must be a U.S. citizen, U.S. national or U.S. resident alien.<\/p>\n<p>7.\u00a0<strong>Residence test.\u00a0<\/strong> In most cases, the child must have lived with you for more than half of 2012.<\/p>\n<ul>\n<li><strong>Limitations.\u00a0<\/strong> The Child Tax Credit is\u00a0subject to income limitations, and may be reduced or eliminated depending\u00a0on your filing status and income.<\/li>\n<li><strong>Additional Child Tax\u00a0Credit.\u00a0<\/strong>\u00a0If you qualify and get less than the full Child Tax Credit, you could\u00a0receive a refund even if you owe no tax with the refundable Additional\u00a0Child Tax Credit.<\/li>\n<li><strong>Schedule 8812.<\/strong>\u00a0 If you qualify to claim the Child Tax Credit make sure to check whether you must complete\u00a0and attach the new Schedule 8812, Child Tax Credit, with your return. If\u00a0you qualify to claim the Additional Child Tax Credit, you must complete\u00a0and attach Schedule 8812.<\/li>\n<\/ul>\n<p>IRS Publication 972, Child Tax Credit, can provide you with more details. View it online at IRS.gov or request it by calling 800-TAX-FORM (800-829-3676). You can also use the Interactive Tax Assistant tool on the IRS website to check if you can claim the credit. The ITA is a resource that can help answer tax law questions.<\/p>\n<p>Courtesy of the Internal Revenue Service.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you have a child under age 17, the Child Tax Credit may save you money at tax-time. Here are some facts the IRS wants you to know about the credit. Amount.\u00a0 The\u00a0\u00a0non-refundable Child Tax Credit may help reduce your &hellip; <a href=\"https:\/\/hoorfarlaw.com\/blog\/?p=1147\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[24,146,16],"class_list":["post-1147","post","type-post","status-publish","format-standard","hentry","category-general","tag-child-tax-credit","tag-internal-revenue-service","tag-irs"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1147"}],"version-history":[{"count":4,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1147\/revisions"}],"predecessor-version":[{"id":1151,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1147\/revisions\/1151"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}