How Much do You Get Back in Taxes for a Child?
The child tax credit for 2016 is worth up to $1,000 per child that is under 17. To be eligible to claim this credit your child or dependent must first pass all of the following tests:
- Must be 16 or younger on the last
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Some taxpayers may experience a delay in receiving tax refunds in 2017. This is for tax returns due by April 15, 2017. Part of the reason for the schedule delay is a new tax law that goes into effect in 2017.
Quoted from an IRS press release, John Koskinen, IRS Commissioner said, “We don’t want … Read the rest
An increasing number of people are turning to TurboTax to get their income tax prepared and filed every year. They take all the hard work and stress out of tax form preparation and will always get you the largest refund.
As you go through the process of importing income and expense information into
the TurboTax … Read the rest
The tax deadline for filing taxes is nearing for U.S. taxpayers and they are feverishly getting all their documents together so they can file their taxes on time. But the important W-2 is missing or maybe you haven’t received it yet, what should you do? No need to panic, you can easily get your missing … Read the rest
Medical expenses can damage your budget tremendously, especially when the emergency is unexpected and your insurance does not cover it. The good news is the IRS does allow you to have some relief from medical expenses with a medical deduction for 2016.
However, to take advantage of their leniency you have to know what is … Read the rest