Deductions & credits

Hello Andy!

Congrats on the new additions!  

Here is some great info on the Adoption Credit and steps to take it: https://turbotax.intuit.com/tax-tips/family/new-addition-adoption-tax-credits/L69hPmzJB

In addition, here is some information on the Child Tax Credit and who qualifies: https://turbotax.intuit.com/tax-tips/family/child-tax-credit/L9ZIjdlZz:

To qualify, the child must: 

• "Be your daughter, son, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or their descendant.
• Be under age 17 at the end of the tax year.
• Not provide more than half of their own financial support during the tax year.
• Must have lived with you for more than half of the tax year (certain exceptions exist).
• Be claimed as a dependent on your tax return.
• Not file a joint tax return for the year (except when only filing to claim a refund of withheld income taxes or estimated taxes paid).
• Be a U.S. citizen, U.S. national, or U.S. resident alien.
• Have a Social Security Number issued by the Social Security Administration that is valid for employment."

If the children do not have SSN's, I would work on that as soon as possible.  The qualifications above will also apply to your newborn. If she meets all of these, you can claim as a dependent.  

There are also many other credits you may qualify for with your children.  Here is a link with the credits and descriptions for them: https://turbotax.intuit.com/tax-tips/family/birth-of-a-child/L26LBBTkd.

In order to change your payroll information, you need to ask your Human Resources Department for a new W-4 form to update this.  Hope this helps!