Dallas Attorney and Taxpayer Advocate Nick Nemeth Offers Tips on the Child Tax Credit
Dallas, TX - Nick Nemeth, a well known tax attorney in Dallas and Fort Worth, has released some tips for taxpayers about the Child Tax Credit that can make tax preparation easier and less stressful. Many taxpayers miss out on the Child Tax Credit even though they qualify according to Nick Nemeth. This is a mistake that can be costly and lead to a much higher tax debt than necessary. The Child Tax Credit will lower any federal income tax owed by the taxpayer. In many cases a refund is received even when no federal taxes are due because the Child Tax Credit is a refundable credit.
A qualifying child for the Child Tax Credit must meet certain criteria. The age, relationship, dependent status, residence, citizenship status, and even support of the child must be evaluated to determine whether the child qualifies for the Child Tax Credit. As an experienced tax attorney, Nick Nemeth has seen cases where the taxpayer does not claim credits that they qualify for because they didn’t realize they could. The taxpayer ends up paying the IRS more than they should. This is not an agency that is going to dispute the amount that is paid unless they believe it is not enough. It is up to the taxpayer to claim any credits to which they are entitled.
Nick Nemeth also advises taxpayers to take advantage of electronic filing offered by the IRS at no charge. This method is secure, convenient, and effective. Since the Child Tax Credit lowers the federal tax obligation the taxpayer has less is paid out in taxes and more money stays in your pocket. This specific tax credit does have income limitations. These limitations are based on the filing status of the taxpayer.
In the recent article published by Nick Nemeth, the Dallas tax lawyer also discusses Schedule 8812. The IRS may require this schedule if the taxpayer has claimed the Child Tax Credit or the Additional Child Tax Credit. Part I of this form is used if a child has an Individual Taxpayer Identification Number. The other part of Schedule 8812 is used for the Additional Child Tax Credit. If the IRS requires schedule 8812, then this should be attached to the federal tax return. Tax forms from the IRS can also be viewed online, downloaded, or even printed.
About Nick Nemeth:
The Law Offices of Nick Nemeth focus solely on IRS tax problems and one of the most common reasons clients come to Nemeth is for delinquent tax returns. With over 15 years experience as a lawyer, Nick Nemeth is a best-selling author who focuses on helping both individuals and businesses overcome the stress and devastation of their tax problems. At his boutique tax law firm located in the Dallas/Fort Worth area, solving IRS problems goes beyond saving his clients' money.
The Law Offices of Nick Nemeth