Additional Child Tax Credit

Additional Child Tax Credit

A refundable credit available to taxpayers with three or more children qualifying for the child tax credit or whose earned income exceeds a specified amount and whose regular child tax credit exceeds tax liability minus other nonrefundable credits. The additional child tax credit is computed on Form 8812. For current figures, see our Child Tax Credit rate table. Also, see Child Tax Credit.
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As the Internal Revenue Service begins releasing refunds for taxpayers who claimed the Earned Income Tax Credit and the Additional Child Tax Credit, the agency reminds them that many of these refunds should arrive in bank accounts or on debit cards this week.
If you'll claim the Earned Income Tax Credit or the Additional Child Tax Credit, though, your refund won't arrive until Feb.
The IRS has issued a news release regarding various aspects of the upcoming 2018 tax season, including the fact that the earliest that refunds will be available with respect to returns containing either the earned income tax credit (EITC) or the additional child tax credit (ACTC) will be February 27, 2018.
Americans who claim the Earned Income Tax Credit or the Additional Child Tax Credit must wait until Feb.
15 for returns claiming an earned income tax credit (EITC) or additional child tax credit (Sec.
Under a tax code provision known as the additional child tax credit, some of the credit may be refundable, depending on the amount of the taxpayer's earned income.
Other credits besides the previously mentioned making work pay credit, adoption credit, and EIC that could be used to offset other taxes and could also be refundable included the additional child tax credit, American opportunity (education) credit, first-time homebuyer credit, and (refundable) prior-year minimum tax credit.
gov/for-tax-pros/new-federal-tax-law-may-affect-some-refunds-filed-in-early-2017) required the IRS to hold onto refunds for taxpayers checking off the Earned Income Tax Credit, Additional Child Tax Credit or both on their return forms, starting Jan.
For example, the child tax credit, including the additional child tax credit, and the American opportunity tax credit are allowable to taxpayers using ITINs to satisfy the taxpayer identification number requirement for those credits.
89) However, it has gone through several substantial amendments since 1997, including the supplement of the Additional Child Tax Credit ("ACTC"), the term for the inclusion of a refundable portion of the CTC.
aired an investigative report on April 26,2012, explaining that hundreds of thousands of illegal immigrants fraudulently were obtaining the additional child tax credit, listing as relatives people who actually lived outside the U.
2 million illegal workers paid no income taxes but received an additional child tax credit refund averaging over $2,000.

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