2007-01-09 04:32:25 · 4 answers · asked by ChildofGod 2 in Business & Finance ➔ Taxes ➔ United States
On the W-4 Form.
2007-01-09 04:34:27 · update #1
All credits are optional. The IRS does not calculate and deduct the credit for you if you do not elect the credit on your return.
The credit is a non-refundable credit for 2 or less children. For 3 or more, the credit MAY be refundable.
Consult your tax preparer/CPA for better answers. Good luck!!
2007-01-09 04:53:19 · answer #1 · answered by NoNickname 2 · 0⤊ 1⤋
You can always put fewer allowances on your W-4 than you actually have. This will result in having more withheld. There's no specific place on the W-4 re Child Tax Credit.
2007-01-09 13:35:52 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Credits are always optional. The W4 is used to estimate the amount of tax to withhold. You can always put less exemptions then you are entitled to but not more.
2007-01-09 12:38:23 · answer #3 · answered by Barkley Hound 7 · 1⤊ 0⤋
No because the IRS will force you to claim it if you fail to take it on your return. Why not take it is my question.
2007-01-09 12:37:46 · answer #4 · answered by spicertax 5 · 0⤊ 0⤋