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Form 8812 For Round Rock Texas: What You Should Know
For those with 1 or less taxable children, the Schedule 8812 form is issued on a monthly basis. What the Form Does The Form 8812 is used to: Determine any child tax credit claimed by the taxpayer's children, as well as the credit amount for qualifying dependent(s) you receive from your children; and for all taxpayers, report any amount received or received on Form 8812 by the filer of a Form 1040, Form 1040A, Form 1040EZ, or Form 1040NR. The tax credit amount is the least of (1) the amount on line 21 of the 1040(a) return with respect to which income tax was paid on lines 21-49 of the 1040; and (2) the amount on line 10 of the 1040EZ return with respect to which income tax was paid on lines 1-49 of the 1040. The credit amount on Form 8812 for an individual tax return is limited to the taxpayer's standard deduction; for married individuals filing separate returns, the credit is reduced by the taxpayer's exemptions. Other Credits for a Child If you use the Form 8812 for another credit or child tax credit (e.g., credits for your children's education, tuition, or other educational expenses), you may need to complete or sign Form 8868, Form 8865, or Form 8864. If you file both a Form 8812 and a Social Security Number (SSN) card application, you must complete and sign both forms, unless they show separate credits. The tax credit is available to an eligible individual who claims the credit on Form 8802, Alternative Taxpayer Identification Number, and has 1 qualifying child younger than 25. How to Use the Form 8812 The Form 8812 is used by taxpayers filing Schedule A or Form 1040-EZ or (if both of those brackets apply), by taxpayers filing Schedule W (Form 1040) or Form 1040A. It does not apply to those filing Schedule E or Form 1040-W. The Form 8812 may be used to report tax and penalty payments on Form 1040 and Form 1040A (not required if you file a joint return) on tax days that fall during April, June, and September.
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