Topic: Child Tax Credit

President Donald Trump is putting Parents Back in Charge

December 12, 2019 |

Washington, D.C. – Conservatives know that strong families are what make America thrive. They build up our neighborhoods, sustain our communities, pass down our values, and create a brighter future for every American citizen.

Yet for years, Washington has treated families as an afterthought—at best—and an outright barrier to “progress” at worst. U.S. President Donald J. Trump knows that bureaucrats shouldn’t have the final say in raising our kids. So from child care to school choice to paid family leave, the Trump Administration is putting parents back in control.  

U.S. President Donald J. Trump delivers remarks at the White House Summit on Child Care and Paid Leave: Supporting America’s Working Families. (Official White House Photo by Tia Dufour)

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Use IRS.gov for Quick Answers to your Tax Questions

February 19, 2017 |

Washington, D.C. – The Internal Revenue Service today reminded taxpayers that the next couple of weeks, especially around Presidents’ Day, marks the busiest time of year for IRS toll-free phone services. Taxpayers can avoid the rush by getting answers to their questions on IRS.gov.

The IRS will be issuing an “Avoid the Rush” series of news releases that provide tips related to the most common questions asked by taxpayers during the February peak.

Income Taxes

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New IRS Tax Guide Helps People With Their 2013 Taxes

December 24, 2013 |

Washington, D.C. – Taxpayers can get the most out of various tax benefits and get a jump on preparing their 2013 federal income tax returns by consulting a newly revised comprehensive tax guide now available on www.IRS.gov.

Publication 17, Your Federal Income Tax, features details on taking advantage of a wide range of tax-saving opportunities, such as the American Opportunity Tax Credit for parents and college students, and the Child Tax Credit and Earned Income Tax Credit for low- and moderate-income workers.

https://www.youtube.com/watch?v=NPo7KDXBBe0 «Read the rest of this article»

IRS Reminds Parents of Ten Tax Benefits

January 31, 2012 |

Washington, D.C. – Your kids can be helpful at tax time. That doesn’t mean they’ll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits.

Here are 10 things the IRS wants parents to consider when filing their taxes this year.

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Do I Need to File a Tax Return This Year?

January 15, 2012 |

Washington, D.C. – You are required to file a federal income tax return if your income is above a certain level, which varies depending on your filing status, age and the type of income you receive.

However, the Internal Revenue Service reminds taxpayers that some people should file even if they aren’t required to because they may get a refund if they had taxes withheld or they may qualify for refundable credits.

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IRS Reminds 169,000 Tennesseans of October 17th Tax Deadline

October 14, 2011 |

Nashville, TN – The Internal Revenue Service today reminded the estimated 169,000 Tennesseans who requested a six-month filing extension in April that the deadline to file their 2010 federal tax returns is Monday, October 17th.
 
“We hope individuals and small businesses will double check their returns for recently expanded tax benefits, like the new Small Business Health Care Tax Credit,” said IRS spokesman Dan Boone. «Read the rest of this article»

Ten Tax Benefits for Parents

February 19, 2011 |

Washington, D.C. – Did you know that your children may help you qualify for some tax benefits? Here are 10 tax benefits the IRS wants parents to consider when filing their tax returns this year.

1. 1.   Dependents In most cases, a child can be claimed as a dependent in the year they were born. For more information see IRS Publication 501, Exemptions, Standard Deduction, and Filing Information.
2. Child Tax Credit You may be able to take this credit on your tax return for each of your children under age 17. If you do not benefit from the full amount of the Child Tax Credit, you may be eligible for the Additional Child Tax Credit. For more information see IRS Publication 972, Child Tax Credit. «Read the rest of this article»

Ten Tips for Taxpayers with Tots and Teens

January 12, 2010 |

With tax season fast approaching the IRS would like to ensure you have the best information available to make informed decisions on tax matters as you prepare your 2010 income tax returns.

Got Kids? They may have an impact on your tax situation. Listed below are the top 10 things the IRS wants you to consider if you have children.

Dependents

In most cases, a child can be claimed as a dependent in the year they were born. For more information see IRS Publication 501, Exemptions, Standard Deduction, and Filing Information

Child Tax Credit

You may be able to take this credit on your tax return for each of your children under age 17. If you do not benefit from the full amount of the Child Tax Credit, you may be eligible for the Additional Child Tax Credit. The Additional Child Tax Credit is a refundable credit and may give you a refund even if you do not owe any tax. For more information see IRS Publication 972, Child Tax Credit. «Read the rest of this article»

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