AUSTIN CALDWELLActualizado
25/12/2024
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12:05
CSTThe Child Tax Credit (CTC) allows you to reduce a portion of your tax bill dollar for dollar and eventually get financial backing for up to 48 million adult applicants who need a little extra help to pay for their children’s food, housing and education.Adults with qualifying dependents under the age of 17 are eligible for this tax credit. The Internal Revenue Service (IRS) announced that by 2025 it will have a maximum limit of $2,000, with a maximum refundable portion of $1,700.IRS Tax Refund Calendar 2023: When will state and federal tax refunds be sent out?The income limit to be eligible for the Child Tax Credit in 2025 will remain at $400,000 for married taxpayers filing a joint return and $200,000 for all other filers.After filing your tax return before the April 15 deadline, payment could come 21 days after you filed your return with the IRS, and you need to check the status of your tax return online.US citizens who for some reason had to change their residence abroad have the question of whether they can apply for the Child Tax Credit, and it is possible, because the eligibility rules do not change, although they should bear in mind that applying for the Foreign Earned Income Exclusion (FEIE) may affect their eligibility for the full credit.If you do not claim the foreign earned income exclusion and opt for the CTC, you could achieve a refund, which by 2025 could increase from $1,000 to $1,400, and it will still be possible to use the non-refundable portion of the Child Tax Credit as an American living abroad, for a reduction in the tax return.
Ven. Dic 27th, 2024
