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Child Tax Credit 2024 Updates - Wait to File Your Taxes!!
The Child Tax Credit (CTC) has some changes from the prior tax year. There are also some pending legislative changes in House Bill 7024, which would be preferable to taxpayers if the bill is passed. The ACTC amount increased from $1,500 to $1,600. The overall credit amount for CTC remained at $2,000 per qualifying child. This video covers two examples of how to complete IRS Form 8812. Chapters and TImestamps 0:00 Changes from Last Year 1:56 Pending changes in House Bill 7024 4:12 Should you Wait to File Your Taxes? 5:38 What are the income phaseouts? 8:30 Example 1 Form 8812 with CTC u0026 Full ACTC 15:54 Example 2 Form 8812 with partial CTC u0026 ACTC Other Helpful Videos on the CTC CTC Support Test: [ 🔗 Click ‼️ ] CTC IRS CP79A Notices: [ 🔗 Click ‼️ ] Does my Child Need an SSN: [ 🔗 Click ‼️ ] Qualifying Child Standard: [ 🔗 Click ‼️ ] IRS Form 8862: [ 🔗 Click ‼️ ] IRS Letter 6419 and the CTC: [ 🔗 Click ‼️ ] Does the CTC change welfare benefits?: [ 🔗 Click ‼️ ] For more videos on CTC and Form 1040 filings, see our playlist: [ 🔗 Click ‼️ ] For a larger database of tutorials, please visit our website and search for your question: [ 🔗 Click ‼️ ] DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these . :::: Visit my YouTube channel @ Jason D. Knott ( [ 🔗 Click ‼️ ]] )
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