If you meet the requirements to claim the Child Tax Credit 2014, expect to see a larger tax refund in 2015
If you have a child, you know first hand that being a parent changes your life.
Along with the new responsibility comes the expenses of having a child, such as food, clothing, classes, pictures, day care and so much more. Luckily, the IRS offers a few tax advantages to help with the never ending costs. One in particular is the Child Tax Credit.
Keep in mind however, just because you have a child, it does not automatically qualify you to claim the Child Tax Credit on your 2014 Taxes.
In order to claim the credit on your 2014 Tax Return, you’ll have to meet the 7 IRS Child Tax Credit requirements.
In order to claim the child tax credit, the child must be one of the following;
- your child
- your stepchild
- a foster child placed with you by a court or authorized agency
- an adopted child (even if the adoption is not final by the end of the tax year)
- your brother
- your sister
- your stepbrother
- your stepsister
- your niece
- your nephew Continue reading “Can I Claim the Child Tax Credit 2014?”