Families Contemplate Timing Amid Senate Debate on Child Tax Credit
Requirements for Qualifying for the Child Tax Credit in 2024
According to CNET, as the Senate debates, families wonder whether to file taxes now or wait for changes to the child tax credit. This credit gives money back to families even if they don’t owe taxes. To qualify for the child tax credit in 2024, families need to meet certain rules, like having a certain income and a valid Social Security number for the child.
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2024 Child Tax Credit – Crucial Information for Your Tax Filing Success! (PHOTO: Seehafer News)
Experts Urge Action Despite Uncertain Child Tax Credit Future
Experts advise against waiting to file taxes despite uncertainty about the bill. The IRS can adjust for any changes later. Families should use available credits like the earned income tax credit. Understanding tax credits is important, even if the child tax credit doesn’t expand. Some states offer their own child tax credit so it’s worth checking for available credits.
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