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 Form it 638 START UP NY Tax Elimination Credit Tax Year 2022

Tax Elimination 2022-2024 Form

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Video instructions and help with filling out and completing Form IT 638 START UP NY Tax Elimination Credit Tax Year

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Instructions and help about it 638 printable

okay for this video i wanted to cover the procedures a taxpayer needs to follow if they're trying to claim a child tax credit for the current year but in a prior period they also try to claim a child tax credit and it was disallowed by the irs if you are in that position you need to file the form 8862 with your tax return in order to continue claiming it in future years okay so i want to go over the form itself some of some of the requirements around this and then an example to illustrate kind of how this works so the form 8862 has to be attached to your tax return if you're claiming the child tax credit and you had a disallowed or reduced partially in a prior year and it was for a reason other than just a math or a clerical error so what they mean there is let's say math error means you just got the amount wrong so if the child tax credit was 2 000 and you put down twenty two hundred for some reason then they would just reduce it to two thousand and there's really no big deal the mos

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