The IRS will begin to release the Earned Income/Additional Child Tax Credit (EITC/ACTC) refunds as normal.
Are you trying to figure out if you will receive the Child Care Tax Credit this year?
As you may know, the government allows for certain tax advantages if you have a child under the age of 18. Recently the government started distributing monthly advance payments of these credits in July through the Advance Child Care Tax Credit Payments.
Let’s go through everything you need to know about the current rules surrounding this updated program, if you qualify and if you should take advantage of this credit.
Did you know that there are certain rules for claiming a child dependent on your taxes?
Before you get started with your taxes this year, you’ll have to figure out if you can claim the dependent living with you.
A dependent can be broken down into 5 main areas which we will discuss on this article. Be sure to go through each scenario to see if your situation qualifies.