Special Child-Related Tax Credits

Child Tax Credit

• This credit is for people who have a qualifying child as defined on this page.
• It is in addition to the credit for child and dependent care expenses (on Form 1040, line 47; Form 1040A, line 29; or Form 1040NR, line 44) and the earned income credit (on Form 1040, line 66a; or Form 1040A, line 40a).
• The maximum amount you can claim for the credit is $1,000 for each qualifying child.

Qualifying Child

A qualifying child for purposes of the child tax credit is a child who:

1. Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, or a descendant of any of them (for example, your grandchild),

2. Was under age 17 at the end of 2008,

3. Did not provide over half of his or her own support for 2008,

4. Lived with you for more than half of 2008 (see Exceptions to time lived with you below), and

5. Was a U.S. citizen, a U.S. national, or a resident of the United States. If the child was adopted, see Adopted child below.

For each qualifying child, you must either check the box on Form 1040 or Form 1040A, line 6c, column (4); Form 1040NR, line 7c, column (4); or complete Form 8901 (if the child is not your dependent).

Adopted child. An adopted child is always treated as your own child. An adopted child includes a child lawfully placed with you for legal adoption. If you are a U.S. citizen or U.S. national and your adopted child lived with you all year as a member of your household in 2008, that child meets condition (5) above to be a qualifying child for the child tax credit.

Exceptions to time lived with you. A child is considered to have lived with you for all of 2007 if the child was born or died in 2008 and your home was this child’s home for the entire time he or she was alive. Temporary absences for special circumstances, such as for school, vacation, medical care, military service, or detention in a juvenile facility, count as time lived with you.

There are also exceptions for kidnapped children and children of divorced or separated parents. For details, see the instructions for Form 1040, lines 52 and 6c; Form 1040A, lines 32 and 6c; or Form 1040NR, lines 47 and 7c.

Qualifying Child of More Than One Person: A special rule applies if your qualifying child is the qualifying child of more than one person. For details, see the instructions on form 1040, lines 52 and 6c, or Form 1040A, lines 32 and 6c.

For more information, see IRS Publication 972, Child Tax Credit

Additional Child Tax Credit

If you qualify for the Child Tax Credit (above), then you may also qualify for this credit. This tax credit may give you a refund even if you do not owe any taxes! 

• The credit is for certain individuals who receive less than the full amount of the Child Tax Credit.
• File form 8812 to claim the Additional Child Tax Credit.

Individuals entitled to receive the child tax credit and additional child tax credit may also be eligible to receive the child and dependent care credit and the earned income credit.

2007 Tax Returns:

$48,433 refunded
 

to local residents who e-filed with the Malden Tax Partnership
Plus more than 120 Economic Stimulus 2007 TaxesReturns filed

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