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Taxpayers who aren’t eligible for the child tax credit should look into the credit for other dependents

The credit for other dependents is a tax credit available to taxpayers for each of their qualifying dependents who can’t be claimed for the child tax credit. The maximum credit amount is $500 for each dependent who meets certain...

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  • September 29, 2021

Checking withholding can help taxpayers decide if they need to give their employer a new W-4

All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld. Employees, retirees and self-employed individuals can use the IRS Tax Withholding Estimator to help decide if they should...

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  • May 27, 2021

Tax credits can help offset the cost of higher education

Whether it’s online, in-person, part-time or full-time, higher education can be expensive. The good news is there are tax credits that can help offset these costs. These credits reduce the amount of tax someone owes. If the credit reduces...

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  • August 20, 2020

Who can get more Economic Impact Payment money for children

Millions of Americans have already received their Economic Impact Payments as the IRS continues to automatically send payments to more individuals. Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive their payment. The IRS...

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  • April 28, 2020

Special alert for benefit recipients who don’t file a tax return and have dependents

SSA, RRB recipients with eligible children need to act by Wednesday to quickly add money to their automatic Economic Impact Payment; IRS asks for help in the ‘Plus $500 Push’ WASHINGTON – The Internal Revenue Service today issued a...

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  • April 21, 2020

Child tax credit by the numbers

Taxpayers may be able to claim the child tax credit if they have a qualifying child under the age of 17. Part of this credit can be refundable, so it may give a taxpayer a refund even if they...

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  • March 3, 2020

Tax reform publication translated into different languages

Taxpayers who filed an extension can find resources on IRS.gov that can help them file their tax return. One of these resources is Publication 5307, Tax Reform Basics for Individuals and Families. This publication is now available in several...

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  • October 11, 2019

Reminder for Parents of Dependants

If you are self-filing tax returns for your dependents and you are claiming them on your tax return too remember to check the box that says they are being claimed on another return. Otherwise your tax return will reject...

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  • February 3, 2018

Your Health Insurance Company May Ask for Your Social Security Number

Your health insurance company may request that you provide them with the social security numbers for you, your spouse and your children covered by your policy. This is because the Affordable Care Act requires every provider of minimum essential...

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  • August 31, 2015

Get to Know the Health Care Law’s Employer Shared Responsibility Payment

IRS Tax Tip 2015-36, June 17, 2015 Under the Affordable Care Act, applicable large employers – those with 50 or more full-time employees, including full-time equivalent employees – are required to take some new actions. To prepare for 2016,...

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  • June 25, 2015

Eight Tax Savers for Parents

Your children may help you qualify for valuable tax benefits. Here are eight tax benefits parents should look out for when filing their federal tax returns this year. 1. Dependents. In most cases, you can claim your child as...

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  • February 11, 2014

Eight Tax Benefits for Parents

Your children may help you qualify for valuable tax benefits, such as certain credits and deductions. If you are a parent, here are eight benefits you shouldn’t miss when filing taxes this year. 1. Dependents. In most cases, you...

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  • February 12, 2013