The IRS reminds us that the Child and Dependent Care Credit was expanded for the 2021 US tax year, for taxpayers with an Adjusted Gross Income of under $438,000, it is 8,000 per qualifying person up to 2 qualifying persons or $16,000, where a qualifying dependent is a dependent 12 years old or younger (age […]
The Child and Dependent Care Credit may come into play for tax year 2021, the maximum eligible expense for this credit is $8,000 for one child and $16,000 for two or more for qualifying persons! Taxpayers who are paying someone to take care of their children or another member of household while they work, may […]
The IRS explains the Child Tax Credit (CTC) with phase out ranges STARTING at $400,00 for married filing joint filers. The IRS reminds us of what the parameters for claiming the CTC starting in January 1 of 2019. Taxpayers may be able to claim the child tax credit if they have a qualifying child under […]
With the signing of the TCJA 2017 legislation on December 22, 2017 to become effective as at January 1, 2018 the Child Tax Credit (CTC) took on a whole new life. With new phase out ranges STARTING at $400,00 for married filing joint filers, it was not uncommon this past 2018 tax season to see […]
The Child and Dependent Care Credit may come into play when the child tax credit does not, learn who qualifies, the maximum credit available, the type of care that qualifies, and the provider information required to claim the credit. Taxpayers with dependents may qualify to claim a few different tax credits. One of these is […]
