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 Shared Care Tax Credit 2023

2023-2025 Form

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Instructions and help about Shared Care Tax Credit

OLDER. WELL YOU MAY HAVE ALREADY RECEIVED A CHECK OR PERHAPS AN AMOUNT DEPOSITED INTO YOUR ACCOUNT FOR THE CHILD TAX CREDIT THEY STARTED GOING OUT THE FIRST ONE WAS JULY 15TH AND WILL CONTINUE THROUGH THE END OF THE YEAR. >> BUT WHAT HAPPENS IF YOU SHARE CUSTODY OF YOUR CHILD YOU'RE DIVORCED PARENTS. JONATHAN MARKS WITH THE MARKS LAW FIRM JOINING US THIS MORNING TO BREAK IT ALL DOWN GOOD MORNING TO YOU RGS YOU CAN GET A LITTLE CONFUSING IF YOU SHARE CUSTODY OF MAYBE TAKE TURNS CLAIMING THEM ON YOUR TAX RETURN, SO LET'S FIRST START WAS THE BIG CHANGE WITH THE CHILD TAX CREDIT FOR 2021. YEAH, I MEAN THERE ARE A FEW DIFFERENT BIG CHANGES MEAN THE FIRST ONE HAD TO DO WITH THE AMOUNT THAT THE CREDIT IS AN OF ITSELF SO NOW IT'S BEEN INCREASED. SO FOR CHILDREN THAT ARE 6 AND UNDER IT'S NOW $3600 PER YEAR IF YOUR CHILD BETWEEN THE AGES OF 6.17 IT'S $3,000 PER YEAR. SO THAT'S THE FIRST CHANGES THE INCREASE. >> THE SECON

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