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Tax Credit Consulting: The Child Tax Credit Conway AR

The children in question would have to have lived with you for at least half of the year as well. There are some exceptions to these criteria. There is also a phase out income level.

Jackson Hewitt
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625 Salem Road
Conway, AR

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Liberty Tax Service
(866) 871-1040
1780 Old Morrilton Hwy
Conway, AR

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H&R Block
(501) 679-7080
57 S BROADVIEW STE 102
GREENBRIER, AR

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Liberty Tax Service
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3901 E Kiehl Ave # H
Sherwood, AR

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Tax Ladies
(501) 834-6280
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Sherwood, AR

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(501) 327-0565
855 E OAK ST STE B
CONWAY, AR

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1008 East Oak Street
Conway, AR

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(501) 796-3940
1122 Main Street Ste 11
Vilonia, AR

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H&R Block
(501) 835-4247
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SHERWOOD, AR

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8611 Hwy 107
Sherwood, AR

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Tax Credit Consulting: The Child Tax Credit

The Child Tax Credit

The Child Tax Credit allows you the possibility to reduce your Federal tax liability by $1000 for each qualifying child under the age of 17.

The Child Tax Credit

In order to claim the Child Tax Credit, the child in question must be under the age of 17 as of the end of the tax year. They also must be a son, daughter, adopted child, stepchild, or eligible foster child. They could also be the descendents of any of those which would mean grandchildren. They must be citizens of the United States or resident aliens. You have to have provided at least half of the support for them.

The children in question would have to have lived with you for at least half of the year as well. There are some exceptions to these criteria. There is also a phase out income level. The phase out income level is the point where the percentage of the credit begins to decline until it is no longer allowed. For a married couple filing jointly this phase out level is $110,000 of adjusted gross income. It is $55,000 for married filing separately and $75,000 for all others.

Although you can only take a credit up to the amount of actual tax owed, it is possible to take any amount that is left over as an Additional Child Tax credit. This is a refundable credit. It means that if your credit exceeds the amount of tax you owe, you will get a refund of the difference. You get this refund regardless of the amount of money that has been withheld from your pay.

The total of the Chi...

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