Video: What is the Child Tax Credit?
ezAngel: Hey Rishi, long time no see!!
Rishi: It’s been a long time indeed. I’m married now with two kids.Life is expensive these days!
ezAngel: Did you say expensive? Well, do you know about the Child Tax Credit?
Rishi: No, please tell me more.
ezAngel: When you file your IRS Form 1040 you could be eligible for the Child Tax Credit.
Rishi: WOW! I didn’t know that.How much is this credit?
ezAngel: How old are your children?
Rishi: They are 9 and 11
ezAngel: Most families will receive the full amount: $2,000 for each child aged 16 or younger.
Rishi: How do I qualify?
ezAngel: To qualify, each child must be your own child, stepchild, eligible foster child, sibling, or a descendant of one of them.
Rishi: Okay, we passed that test.
ezAngel: Do your kids have their own social security number?
Rishi: Of course, they were born in the USA and are U.S. citizens.
ezAngel: Did they pay for less than half of their own support?
Rishi: My kids are 11 and 9, hello? no!
ezAngel: One last question for you… To qualify, because you’re married, your adjusted gross income must be less than $400,000.
Rishi: We make way less than that.
ezAngel: Good.If you were any other type of filer such as single or head of household, the cut off would be $200,000.
Rishi: It was nice learning about the Child Tax Credit but… Do you think I qualify for the extra $4,000 in my IRS refund?
Rishi: Where did you learn about the Child Tax Credit?
ezAngel: At ezTaxReturn.com – Where I always file my taxes.