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North Las Vegas Nevada Form 8812: What You Should Know
IRS Schedule 8812. Nevada's taxpayers can receive the maximum additional child tax credit for each qualifying dependent from 5 to 6 children. “New” child Tax Credit is a new deduction and credit Taxpayers can also claim a “new” child tax credit for the tax year which is just a revised version of the existing Child Tax Credit. This new child tax credit is not subject to the current limitation on the size of the credit to 3,000 (it is in effect from November 2013). Qualifying children are dependent children and the child and parent tax credit is the maximum available credit for your dependent children. The credit for eligible dependent children includes all children up to age 17. Children who are not eligible dependents are eligible for the additional child tax credit if they meet the age, and not more than 500 miles away from the child's school. The additional child tax credit is computed on a child tax liability and is deducted by the parent as a deduction on Form 1040, Line 21. Qualifying Dependent Children Age of Dependents Age of dependent children must be: • 10 years old or younger. • Sixteen or seventeen years old. • Fourteen or fifteen years old. Age 15-17 Dependent children under age 15 are not eligible to receive a child tax credit. The amount of the Additional Child Tax Credit is 1,000. If you will be filing for an Individual Income Tax Return and are eligible for the Child Tax Credit, simply check off the “Child” checkbox on the Schedule A to Schedule 1040, line 32, and you will get the maximum credit of 3,000. If you have a dependent child with you, click the link to get information regarding your eligibility. New Child Tax Credit The new child tax credit (CA-2) was first introduced in November 2013. “ The new Child Tax Credit is refundable for 2013. For tax years that begin on or after March 1, 2014, it is phased out and replaces the child tax credit for families that file returns for tax year 2024 or earlier. “ Click here for the 2024 Tax Information for Dependents who use the Additional Child Tax Credit. If you are filing for an Individual Income Tax Return and have a dependent child, your child is eligible to receive a child tax credit.
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