The Federal Tax Credits Blog

Archive for the ‘Child Tax Credit’ Category

Question: child tax credit question, please…………….?

I know the amount they pay varies from family to family.
But I would like to have an idea how much to expect approximately for my nephew who is 16 and in full time education.
I am getting £103 for my son (disability premium added).

Thank you in advance.

Answer: try this HMRC calculator.

http://taxcredits.hmrc.gov.uk/HomeNew.aspx

McGuinty touts kid tax credit

Premier Dad has been emptying the pockets of Ontarians for seven years, but now he wants to return a little chump change to his fellow parents.[...]

Help for Homeowners in the Hardest Hit States

Question: Disability Credit Canada?

Can a child who is under 2 and diagnosed with cerebral palsy recieve the disability tax credit in Canada? I’m waiting for CCRA to make its decision but that could take 4-6months. Just wondering if any body knows through experience.

Answer: Yes, CCRA should approve it.

Protesters disrupt McGuinty’s tax credit message

Ontario Premier Dalton McGuinty got an earful Thursday from protesters unhappy with proposed wind turbine farms planned for the southern City of Kawartha Lakes.[...]

How to renew your tax credits video 6 – disability

Question: Can I be penalized for filing an amended tax return (1040)?

I am anticipating a sizeable refund (I am married with three children. We pay daycare expenses and I had some tuition expenses for going back to college). I do our taxes every year, so I am reasonably able to forecast a refund amount. Due to the AMT changes, I will not be able to file the dependent care expense form or the education credit form until February 11th. We have some bills that we need to catch up on, and I want to try to get me refund back sooner. I am thinking about NOT filing these two forms for now, and get a lower refund to pay the bills. I would file an amended form to get the rest of the refund. Is there any reason why I should consider NOT doing this? Can I be penalized? I’d doing it this way to catch up on important bills that really should not be delayed. Thank you.

Answer: The IRS will not assess a penalty if you file a return showing a higher tax liability than necessary. You are generally allowed 3 years from the end of this year’s tax season to amend your return, show the additional amount you have overpaid, and claim the remainder of your refund.

Even if the IRS expects to be ready to handle current changes on February 11, there is no guarantee they will be ready on that date. The IRS may also pay interest on the amount they are holding, if the delay is significant.

It’s perfectly acceptable to file a return claiming as much of your refund as possible, then file 1040X to claim the rest of your money you have overpaid during the year. It’s not your fault that the IRS is not ready with the forms you need to claim your money.

Five forms are affected by the delay:
• Form 8863, Education Credits.
• Form 5695, Residential Energy Credits.
• Form 1040A’s Schedule 2, Child and Dependent Care Expenses for Form 1040A Filers.
• Form 8396, Mortgage Interest Credit.
• Form 8859, District of Columbia First-Time Homebuyer Credit.

Good luck.

Help for grandparents raising grandchildren

You’ve done your job.

Considerations for Senior Taxpayers

Question: child tax credits?i am a single parent and when my baby was 4 weeks old i applied for child tax i recieved two?

payments one for 34.00 and one for 64 but my claim has not been backdated can anyone help me? has this happened to anyone else and then recieved back payment sepretatly?

Answer: Ring the child tax credit office and query to them!

Life Since Katrina: 3 Stories Of Survival

Federal health officials are urging that hurricane victims be moved out of FEMA-supplied trailers as quickly as possible because of a health threat.

Legal Solutions – Harjap Does Benefits

Question: why are tax returns taken when you owe back child support in Texas?

My brother owes $30,000 in back child support in Texas and wants to know if the state taking his tax refund constitutes a payment (credit) towards his monthly payment or is this just a method to get him caught up. PLEASE explain in detail!!!!

Answer: The returns are taken to cover the arrears in his support. It will NOT be considered a credit towards any monthly payment due at the current time. He needs to keep making those.

‘Horrible Bosses’: The next R-rated comedy blockbuster?

The movie already has emerged as one of the most eagerly anticipated releases of next summer.

Calculate child tax credit for 2009, 2010.mov