The Federal Tax Credits Blog

Archive for the ‘Child Tax Credit’ Category

Question: tax credit question? U.K. only please?

Hi, last year my husband earned approx £18500 whilst I stayed at home with the children and took care of them. We were paid approx £3500 in tax credits over the year. This year we filled out the review pack and stated that I am now working (self employed) and our joint income would be £30000 approx. They said our award for this year would be the same as the amount hadn’t gone up or down by more than 25k. The situation has now changed and I am on my own earning £12000 roughly and I have checked the tax credit calculator online and it seems that although we have lost my husbands £18,500 the tax credits dont change? It will be a struggle on my wages and tax credits but I want to work so any ideas? Really cannot afford to get this wrong!
Cheers,
Donna.
should have said my income is £12000 before deductions.

Answer: Wish I could help you…but I think you might have better luck asking this in the tax category…good luck!

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Question: International Adoption tax question.?

We adopted our daughter from China. We started the process in 2005, our home study Anniversary date was 12/05/2005 Because of the very long match waits we did not travel till Feb of this year, 2008. The adoption as far as China is concerned was finalized in China, Our Daughter became a US citizen when we touched down back in the states. Both my husband and I traveled to China so the adoption would be complete there. Our State, VA requires a 1 year followup for the ‘re-adoption’ to receive a VA Birth Certificate. Our Agency as well requires a 1 year update this will be at the end of Feb. 2009.

Does anyone know about the Federal Government Tax credit for adoption? It is my understanding that it is around $10500 or so. Can we claim this credit this year on our 2008 taxes or will we be forced to wait one more year to claim this on our 2009.

Answer: Hi Lilly,

I think you can claim the tax credit on your 08 filing. You’ll need IRS form 8839. The instructions are on IRS publication #968.

If you google the form and publication, you should find what you’re looking for.

BTW- Congratulations!

Senate Tax-Cut Plan Would Add $857 Billion to Debt Over Decade

Senate leaders released an agreement crafted by the White House and Republicans to sustain Bush-era tax rates through 2012, set the estate tax at the lowest rate in 80 years, extend jobless aid and cut payroll taxes by 2 percentage points.

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Question: child tax credit question?

my baby boy is 5 months old and i have kept forgetting to send the tax credits form off. has anyone else been backdated more than 3 months payments?? or do they generally stick to the rule about only backdating three months worth? and also how long does it take roughly for the payments to go in from when i sent it?? this is my first child so it is my first claim form.
thank you x
just to add .i sent it about two weeks ago

Answer: im with stardust,i was late with my form but only got 3 months backdated to the day. but i will say they was quick sending me it,2-3 weeks

Citing deficit, Obama freezing federal worker pay

President Barack Obama on Monday called for freezing the pay of 2 million federal employees, saying the move is the first of many difficult decisions that must be made to slash the nation’s mounting deficits.

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