Business Tax Recovery Logo


Tax Credit Consulting: Family Tax Credit Bismarck ND

The tax laws have often been used to support social customs that are deemed in the best interest of society. The Government has a stake both in helping families and caring for children.

H&R Block
(701) 250-0960
2717 ROCK ISLAND PL
BISMARCK, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
118 14th St W
Williston, ND

Data Provided by:
H&R Block Inside Times Square West
(701) 282-4570
5050 13TH AVE S
FARGO, ND

Data Provided by:
H&R Block
(701) 241-7628
1531 S UNIVERSITY dr
FARGO, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
720 S Washington St
Grand Forks, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
500 W Main St
Mandan, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
312 University Dr N
Fargo, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
3005 13th Ave S
Fargo, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
1173 3rd Ave W # 19
Dickinson, ND

Data Provided by:
Liberty Tax Service
(866) 871-1040
113 Main Ave E
West Fargo, ND

Data Provided by:
Data Provided by:

Tax Credit Consulting: Family Tax Credit

Family Tax Credit

The United Kingdom offers several tax credits that are designed for working family and their dependent children. The United States does not have a similar Family Tax Credit, but rather uses the Earned Income Credit for the same purposes.

In the United Kingdom, there is a specific tax credit that is called the Family Tax Credit. It is also known as the "Working family tax credit" and is associated with a Child Tax credit. The United States relies more on the Earned Income Credit (EIC) to deal with the issue of tax relief to low income working families. The Earned Income Credit is just one credit, and indeed deduction, that could be classified under the general heading of Family Tax Credits.

Some States, Minnesota is one; offer a tax credit from State Income Tax that is called a Family Tax Credit. This credit is available for residents who have already qualified and filed for the Earned Income Credit. Other States have various credits that are designed to encourage and support working families or families with special needs.

The tax laws have often been used to support social customs that are deemed in the best interest of society. The Government has a stake both in helping families and caring for children. Children who are properly cared for within a family setting are going to be much less of a social and financial burden on the country than children who become wards of the State. This is why many States offer tax credits that tend to ease the tax burden on families with children.

Many federal tax credits could be considered family tax credits, such as the credit to a business that maintains facilities and staff for employer sponsored child care for working parents. This is just one of many examples of the types of tax credits that have strengthening of families as a goal. This is especially true of working families. The Welfare-to-Work credit is designed with the idea of moving people, even those with children, from the welfare roll...

Click here to read the rest of this article from BusinessTaxRecovery.com