American Tax Service

Helping Americans File Their Taxes

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The Child Tax Credit & Additional Child Tax Credit

One of the most beneficial and popular federal tax credits is the Child Tax Credit. This is a nonrefundable tax credit but it is worth up to $1,000 per qualifying child.

Who is Considered a Qualifying Child?

child tax credit additionalThe IRS considers a qualifying child to be a child that meets all of the criteria’s below:

  • Under
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Earned Income Tax Credit & Credit Table

Although an incredible number of families currently claim this unique tax break for wage earners with low earnings, the IRS says substantially more qualify for this refundable tax credit yet neglect to take advantage of it.

The guidelines for (EIC) Earned Income Credit Table were recently liberalized; therefore many more families meet the requirements and … Read the rest

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What is EIC/EITC and Who Qualifies?

The EIC/EITC is known as the Earned Income Tax Credit. This tax credit is available for those who have a low or moderate income that they have earned.

EIC, Earned Income CreditThe amount that you receive for this credit is determined based on the filing status you use and your salary for the year. Those who qualify pay … Read the rest