A Holiday Child Tax Credit Carol For All!
Christmas day is soon and Hanukkah is now here,
That means the dreaded Tax Season is getting near.
Before filing, there are some things you should know,
So we made a carol to make it less tedious and slow!
There is a tax credit you may not believe,
A $1000 per child, which you can receive!
In 2012 the child tax credit was set to expire,
But things changed when down to the wire.
In 2013, Obama saw the eyes of parents fill with tears,
So on the third of January, it was extended for five years.
When filing your past and present taxes there are a few things to know;
The child tax credit wasn’t designed for those with a high income flow.
It’s for married couples making up to $55,000 and filing apart.
Widows, singles, head of households, making under $75,000, can also take part.
If you make under $110,000 married and filing a joint tax return,
You also are eligible for the child tax credit to personally earn.
There are other requirements that must be met;
For example, the child must be claimed as your dependent,
And for more than half the year, lived with you.
The dependent must be a citizen of the US, or a resident alien too.
He or she must be your son or daughter, sister or brother
But be sure they aren’t claimed by a different father or mother.
Another requirement, the child must be under seventeen.
If you meet all of these, you’ll probably get the green.
When claiming a lot of kids on your return, don’t be too lax,
Or you might be subject to the Alternative Minimum Tax!
There are no limits to the number of children you can claim,
But it’s best to be honest, or you might be put to shame!
When it comes time to file, gather your documents in a pile,
Create an account on PriorTax and start to file.
After you submit your tax return on the site,
Our accountants will make sure everything looks alright!
If you have taxes from previous years, it’s not too late
It’s best to get started today rather than wait!
Then you can enjoy your festive holiday season,
Without the tax worries being a stressing reason!
Happy Holidays!
Photo from Axel Buhrmann via Fotopedia
