You'll need to sign in or create an account to connect with an expert.
Sorry--- no. The rules for the CTC are back to the "old" rules--you do not get the CTC if you did not work. The child-related credits are based on how much you earned by working.
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
AND….If you have children but had little or no income, it raises the question of how you and the children were supported. There may be another tax-paying adult who can claim you and/or the children as dependents.
ENHANCED CHILD TAX CREDIT BILL
No one here knows if or when the proposed enhanced child tax credit bill will pass. It is presently in the hands of 535 state representatives and senators in Congress. It has not been passed or signed into law. IF and when it passes, we do not know when they will make it effective or how it will be implemented. They are still wrangling with it so we do not know what it will look like when they are done.
It is unlikely to affect your 2023 return; maybe enough members of Congress remember what a mess they created when they changed the tax law for taxing unemployment during the 2020 tax filing season in 2021 and will not want to do that to the U.S. public again in mid tax season. Or maybe they will go ahead anyhow. We do not know. But if it affects you for 2023 they will have to provide a way for you to get the credit.
@fb420 That website is not a official government website, nor a website that should be used for any tax information.
The $2,500 minimum income is required by the IRS when using Schedule 8812 to calculate the child tax credit for tax year 2023.
Go to this IRS website for both the Schedule 8812 and the Instructions with have the Worksheets - https://www.irs.gov/forms-pubs/about-schedule-8812-form-1040
The 2021 child-related credits were very generous. Lots of people are still being taken by surprise when they find out the credits for 2022 and 2023 are lower than they were for 2021.
The tax laws changed for child-related credits and are much less generous for 2022 and 2023.
Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. Careful— do not say that your child’s SSN is not valid for employment. If your child was born in 2023 make sure you said he lived with you the whole year. There is an oddly worded question that asks if the child paid over half their own support. Say NO to that question.
Have you entered income from working in 2023? If not, you will not receive an income tax refund based on having dependent children.
The rules for getting the child tax credit on a 2021 tax return and now on a 2023 return are very different. For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work. That is NOT the way it will work for your 2023 tax return. The “old” rules are back.
The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1600. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1600 per child. If the amount you earned was too low, you will not get the full $1600.
If your child is older than 16 at the end of 2023, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
And for the Earned Income Credit—-the rules are back to the “old” rules—
Those under 25 and over 65 without children are not eligible as they were uniquely in 2021. And you cannot use your income from any earlier tax year to get the EIC for a 2022 return. There is no “lookback” for 2023. EIC for 2023 will be based on the income you earned by working in 2023.
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant
Look at your 2023 Form 1040 to see the child-related credits you received
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28
AND….If you have children but had little or no income, it raises the question of how you and the children were supported. There may be another tax-paying adult who can claim you and/or the children as dependents.
I am trying to find out about it,I think we should be able to..
@Prayingmother_40 wrote:
I am trying to find out about it,I think we should be able to..
The $2,500 minimum income is required by the IRS when using Schedule 8812 to calculate the child tax credit for tax year 2024.
Go to this IRS website for both the Schedule 8812 and the Instructions with have the Worksheets - https://www.irs.gov/forms-pubs/about-schedule-8812-form-1040
@Prayingmother_40 The child tax credit for 2024 is based on having income from working. You must have at least $2500 of income from working in order to get any of the refundable additional child tax credit. An earned income of only $2500 will not get you the full amount of the credit, however. The refundable amount of the credit is calculated like this:
Look at box 1 of your W-2---the amount you earned from working.
Take the amount you earned, subtract $2500, and multiply what is left by 15%. That is your additional child tax credit ---- up to a maximum of $1700 per child.
You only get the CTC for children who are younger than 17 at the end of the tax year. They must have a valid Social Security number.
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
MomThatCusses
New Member
chris-davidebel1979
New Member
Taxes_Are_Fun
Level 2
bshelb77
New Member
Taxes_Are_Fun
Level 2