The IRS offers the Child Tax Credit to help reduce the tax burden for families with qualifying children. There are strict requirements for this non-refundable tax credit, including age, relationship, citizenship, and more. Find out if you qualify for the
The earned income tax credit (EIC or EITC) is for low- and moderate-income workers. In general, the less you earn, the larger the credit. Families with children often qualify for the largest credits. See qualifications and credit amounts for 2024 and 202
Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2018 • October 21, 2024 1:40 PMOVERVIEWThe Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? F...
EITC:TheEarned Income Tax Credit(ETC) is a tax break for low to moderate-income individuals and families. For qualifying taxpayers with three or more qualifying children, the tax year 2025 maximum Earned Income Tax Credit amount is $8,046, an increase from $7,830 for the tax year 2024.21 ...
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DEPENDucator: Who qualifies as a dependent on my tax return? CHILDucator: Do I get the Child Tax Credit for my dependent? FILEucator: Does my dependent have to file taxes? EITCucator: Is my Earned Income Tax Credit bigger when I claim dependents?
Who qualifies as a dependent for the child tax credit? Generally, there are seven “tests” you and your qualifying child need to pass: age, relationship, dependent status, residency, financial support, citizenship and income. Age: Your child must have been under the age of 17 at the end...
Beginning with the 2018 tax year, exemption deductions are no longer taken on your personal tax returns. The information below if for tax years prior to 2018. Video transcript: Who qualifies as a dependent? You could get $4,000 ($4,050 in 2017) off your taxable income for ea...
Find out whether you qualify for the Earned Income Tax Credit by answering six yes or no questions. This video will help you get started with the Earned Income Credit (EIC) and help you get all the tax deductions and credits you qualify for.
For the 2024 tax year, the credit is worth 20% to 35% of up to $3,000 (for one qualifying dependent) or $6,000 (for two or more qualifying dependents). Earned income credit This EITC can get you between $632 to $7,830 for the 2024 tax year, depending on how many children you...