Taxes in the United States is something totally unavoidable, so every year we must send our Tax Return to the IRS. However, this does not have to be bad news. Sometimes we can find that the IRS itself helps us through tax discounts or even money back.
And in the case of having a child we will always find attorney advantages. And, although it may not seem so, having an adopted child will also give us access to this type of economic help. Thanks to these discounts in taxes we can obtain once a year a very interesting stimulus check that will be able to help us.
If we are thinking about whether or not to include our child in our tax return, we should not hesitate at any time. Doing so should be in our plans, since thanks to the Child Tax Credit we can get a discount on taxes and, therefore, a higher Tax Refund from the IRS.
On top of all that, this can be added to any other discounts and tax refunds we may have for other reasons. So it never subtracts, but adds up to having a child in these cases. Did you send the proper form to the IRS?
WHO CAN GET THE CHILD TAX CREDIT WITH AN ADOPTED CHILD FROM THE IRS?
Truth be told, any and all citizens who have a child can apply for the Child Tax Credit. However, not everyone can get it, so it is important to not only look at the requirements, but to meet them. If we are not completely convinced that we are eligible, we can always send the documentation to the IRS and get a negative answer.
The usual requirements for this Child Tax Credit, according to the official IRS source, are:
- Be under age 17 at the end of the year
- Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew)
- Provide no more than half of their own financial support during the year
- Have lived with you for more than half the year
- Be properly claimed as your dependent on your tax return
- Not file a joint return with their spouse for the tax year or file it only to claim a refund of withheld income tax or estimated tax paid
- Have been a U.S. citizen, U.S. national or U.S. resident alien
With this information you can now know what the requirements are. Remember that this information is completely official and you can consult it on the IRS website, as well as the rest of the requirements and conditions.
CAN I COMBINE OTHER STIMULUS CHECKS WITH THIS EXTRA PAYMENT?
Of course, as long as the stimulus checks do not exceed the maximum income you can get to claim the Child Tax Credit. However, we can always send the form to the IRS, as mentioned above, and find out if we are truly entitled to this tax break or not.
Even so, if we look at the list of requirements beforehand we can save time. If we do not meet them we do not have to prepare the form and compile all the necessary information and documents to submit.