Will I qualify For a Child Tax Credit?

Question

I worked very very little last year and was pregnant, but delivered my son within the year. Im single and considered low income because Im not currently working.

Answer 1

Requirements for child tax credit:

1) You have to have a child who was alive on Dec 31 and a US citizen and under the age of 17.

2) You have to be the one claiming the exemption.

There is no requirement for amount of income. You could claim the credit even if your adjusted gross income is zero.

This is how you do it:

Find "publication 17" at www.irs.gov (follow the "publications" links.) Go to page 219 and fill out all three of the worksheets (form 972, child tax credit and additional child tax credit). The line numbers refer to the 1040 (long) form.

If your child tax credit turns out to be "zero", you likely qualify for "additional child tax credit". This is one of the three magic refundable credits where you get refunded to you more than you ever paid in.

(We call it the "IRS Welfare System". It's one of the military's greatest benefits when we're allowed to reduce our income because of serving in hazard zones.)

Answer 2

Child Tax Credit may not help you because you have no taxable income. However, you may want to apply for the Universal Child Care Benefit which is $100 a month for each child under the age of 6. You must apply to get the benefit. You can get the application on line from Canada Revenue Agency. Hopefully you are a Canadian.

Answer 3

If you worked then you have earned income. From what you describe, you will owe little or no tax. The Child Tax Credit reduces taxes you owe. So you will get little or no Child Tax Credit.

However, you may be eligible for the Earned Income Credit which gives you money even if no tax is owed. So file and see. The questions on the forms will determine if you qualify, or you can read the information here:

http://www.irs.gov/pub/irs-pdf/p596.pdf

Answer 4

Of you owe any tax, you most likely will qualify for the child tax credit. It subtracts from your total tax. If you don't owe anything, then there's nothing to wipe out. If your total tax is $1000 or less, which it probably would be if you owe at all, then the child tax credit should wipe out what you owe and you'd get whatever you had withheld back as a refund.

You'll probably also qualify for the Earned Income Credit.

Good luck.

Answer 5

Kid born on or before 12/31 is a child for the entire tax year.

Answer 6

You might want to call H & R Block or the company you use.

I had the same problem my first year after having my daughter.

They told me it all depends on how much you made.

I think it's somthing like, if you didn't earn more then 600 dollars that you then they dont even recommend you file or somthing around those lines.

I didn't file that year because my tax lady told me I would pay more to have them done, then I would get back.

Answer 7

Go to this link this will answe your questions, http://www.irs.gov/publications/p972/ar02.html#d0e187