Filing taxes for Child Tax Credit 2023 doesn’t mean you can claim the credit for your children born that year.
Child Tax Credit 2023 Doesn’t Include Credit for Children Born the Same Year and Here’s Why
Filing taxes for the Child Tax Credit 2023 didn’t mean eligible taxpayers could claim the credit for their children who were born in the same year, wherein eligible taxpayers had been depending on the Child Tax Credit 2023 and other additional tax credits for their children.
According to a report published in Marca, eligible taxpayers who have children aged 17 and below could claim the Child Tax Credit 2023 of up to $2,000 per dependent child; however, eligible taxpayers who expect to claim the Child Tax Credit 2023 for their children who were born that same year would need to wait until 2024.
With the Child Tax Credit 2023 coming, eligible taxpayers should be prepared with the requirements and documents needed so that they would be ready to claim the tax credit next year for their children who were born in 2023 but are not yet eligible to be dependent on the Child Tax Credit 2023.
Taxpayers Encouraged to Submit Application to be Eligible for Child Tax Credit 2023
Taxpayers who meet the criteria are encouraged to submit their application for the Child Tax Credit 2023 as long as they can present supporting documents to prove they are eligible for the tax credit.
Under the Child Tax Credit 2023, taxpayers who have children below 17 and can meet the income threshold will be eligible for the tax credit, amount depending on the number of qualifying dependents, Nerd Wallet reported.
READ ALSO: Expanded Monthly Child Tax Credit To Be Permanent Following American Family Act Reintroduction
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