Are you eligible for a $1000 child tax credit?

You might be eligible for a child tax credit. This credit is up $1000 per each eligible child. There are seven qualifying tests that have to be met according to IRS. 

  1. Age test – The child must be under 17 by the end of 2011 
  2. Relationship test – The child must be your child or adopted child, stepchild, foster child, brother, sister, stepbrother, stepsister or a descendant of the above child such your grandchild, niece or nephew.
  3. Support test – You must have provided at least 50% of support of the child.
  4. Dependent test – The child must be your dependent on your tax return
  5. Joint Return test – The child can not file a joint return for that year
  6. Citizenship test – The child must be a US citizen or a legal permanent resident
  7. Income Limitation test – The credit is limited if your modified adjusted gross income is above a certain amount.

Married Taxpayers return  $110,000

Married filing separate      $55,000

Other taxpayers                 $75,000

This credit is generally limited by the amount of tax you owe.

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