The Child Tax Credit is a type of tax refund that the United States IRS makes for families with children. This type of tax refund can be very interesting in the sense that many families can save a lot of money in taxes.
Each situation is totally unique, as it depends on factors such as the number of family members, monthly income and other elements. Still, if we have the possibility to apply for one of these Child Tax Credits we should do so immediately.
If we have an adopted child, it is also possible to apply for the Child Tax Credit. To get it or not will depend on the eligibility factors, but the first of these requirements is to have a child and by adopting him/her we have already passed that barrier.
However, we must keep in mind that just because we meet this requirement, we will not be able to obtain this IRS extra check immediately. We must pass the rest of the requirements to obtain it, so we must watch out to fulfill all of them in order not to have problems with taxes.
WHO CAN APPLY FOR THE IRS CHILD TAX CREDIT?
Not all Americans can have access to this IRS payment. Also, remember that it is necessary to apply for it at the time of making the annual Tax Return. So when you are sending all the documentation, make sure you do not forget to take the corresponding form.
To meet the eligibility criteria and apply for the Child Tax Credit, even if your child is adopted, you must meet the following requirements:
- Have a child under 17 years of age before the end of the year.
- It must be a child, but it can also be a grandchild or even a nephew or niece.
- Pay no more than half of his or her needs during the year.
- The child must have lived with you for at least half the year.
- Live in the United States.
These are the main requirements, but there may be other requirements depending on the family. If you meet your requirements you will be able to enjoy this extra benefit in your next year’s Tax Refund. The IRS will calculate your taxes and add the Child Tax Credit to your Tax Return.
IS IT MANDATORY THAT THE CHILD BE ADOPTED IN ORDER TO APPLY FOR THE CHILD TAX CREDIT?
No, it is not mandatory. Any citizen with children who meet the above requirements can apply for the Child Tax Credit from the IRS. But it is not mandatory that the child be adopted. Whether the child is adopted or not is a possible option, but not mandatory.
In addition, remember that it can also be a grandchild who qualifies for the Child Tax Credit. Likewise, other categories such as nieces and nephews are also eligible as long as they live within the applicant’s domicile.
The important thing is that the child is in our care, is under 17 years of age and financially meets the rest of the requirements. Only in that case we will be able to request the Child Tax Credit to the IRS to obtain that small attorney advantage.