The Tax Credit is a great support for those American families who really need them. Those parents and legal guardians could receive quite a lot of money to be able to afford all the essential expenses for their dependent children. Needless to say that many citizens feel like leaving the filing of their tax returns for another day. Get started now to benefit from the Child and Dependent Care Tax Credit.
Having the possibility to get a refund in just 21 days after your filing, makes this task a lot easier. This Child and Dependent Care Tax Credit is necessary for families to be able to make ends meet. Remember that many Americans rely on their refunds to make important payments or expenses. When a family has extra expenses it becomes a real need.
What are the requirements to collect this Child and Dependent Care Tax Credit?
In order to be eligible to collect the Child and Dependent Care Tax Credit, there are three main things the Internal Revenue Service will check. The first thing to take into account is if you had to pay a carer to look after your child or children to be able to work. It could be your child or another qualifying person. If you had to hire someone to take care of your child while you worked or looked for a job, you may qualify.
In this way, you may be eligible to claim this tax credit for the child and dependent care expenses you may have. So, the Internal Revenue Service will probably reduce your federal income tax. They will do it once you qualify to get this Child and Dependent Care Tax Credit and you claim it on your tax return.
Remember that the Tax Return has an end date. For most Americans, the Tax Season will end next April 18th. However, there are some states where it will be possible to send the tax return later. In addition, we can also request an extension of tax time, although the IRS does not always accept such requests.
Who can be eligible to collect it?
Those who paid the necessary expenses for the care of the qualifying individual to allow to work or look for a job in an active way. Besides, you must have lived in the USA for more than six months to get the tax credit. Bear in mind that those who are abroad because they are members of the military, they have special rules. Some might be wondering who qualifies you to collect this tax credit.
Usually, it is a dependent under the age of 13 that qualifies you to claim this tax credit. It could also be a spouse or a dependent of any age who is unable to take care of themselves and resides with you for more than 6 months. Take this brief survey to find out if you could claim the Child and Dependent Care Tax Credit or not.
Any kind of financial help is welcome, so don’t forget to check if you are eligible for this Child Tax Credit. Also, don’t forget that the Tax Season is currently open, so send your tax return as soon as possible in order to receive your tax refund. All this in case we are entitled to receive it, of course.