Curious about what to expect from the 2021 Child Tax Credit? The basic structure is that families will receive $3,000 for each dependent child who is between six and 17 years of age.
Para los niños más pequeños, el crédito fiscal es de $3,600. Dado que se trata de un crédito fiscal, el dinero que recibe se descuenta de sus impuestos.
Calificación para el Crédito Tributario por Hijos
Many parents will receive the full credit, but higher income families will receive a smaller portion. For example, if you are filing as an individual with $75,000 or less in modified adjusted gross income, you qualify for the entire tax credit. The same applies to married couples filing jointly who make less than $150,000.
La última declaración de impuestos que presentó ante el IRS se usa para decidir si califica en función de su ingreso bruto ajustado (AGI) y la edad de sus hijos.
There are also a few other requirements for a child to qualify for the credit. For example, they must be claimed as a dependent, a United States citizen, and living with you six months or more during the year. If you aren’t sure whether you qualify, an experienced abogado con experiencia en impuestos de Tucson puede ayudarlo.
Comprender cómo funcionan los créditos fiscales
Many people get confused about what tax credits are and how they work. Essentially, a tax credit is a certain amount that is subtracted from whatever taxes you owe. For example, if you owe $2,000 and qualify for the $3,000 credit, the extra $1,000 is provided to you as a tax return.
In many cases, these credits have a floor. That means a certain amount needs to be paid in taxes to qualify. However, this particular tax credit does not have that requirement.
Cómo recibir el crédito fiscal
Child tax credits can be collected on a monthly basis due to the American Rescue Plan Act of 2021, so there is no need to wait until tax filing time. There are two options available to you.
The first option is to wait and get the entire claim when you file your taxes in 2022. This will lower the amount of taxes you need to pay and could create a more significant return.
The other option is to receive half the claim in monthly installments in cash beginning in July of 2021 and going through December. The other half is used as a typical tax credit when you file.
Those who want to use the first option will need to opt out of cash payments. This can be done at the Child Tax Credit Update Portal. This portal can also be used to provide the IRS with information about changes, such as the birth of a new child.
El Crédito Tributario por Hijos y los Padres Separados
Like the stimulus checks that gave an additional amount to people who have children, this tax credit is based on the last filed taxes. As such, whoever claimed the child on their 2020 taxes will receive the tax credit.
Some parents alternate who claims the child from year to year, so this could balance out the stimulus packages. Separated parents who are on good terms can also choose to share the money with the other parent.
However, if there are arguments about who deserves the money from the tax credit, there are other options. It’s possible to file with a court to decide who should receive the tax credit.
Si decide que esta es la opción correcta para usted o si necesita otra ayuda con su decisión, comuníquese con un abogado fiscal con experiencia en Guardian Tax Law. Podemos ayudarlo a comprender todas sus opciones y trabajar con usted en el proceso.
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