The ACTC amount increased from 1,500 to 1,600. The overall credit amount for CTC remained at 2,000 per qualifying child. This video covers two examples of how to complete IRS Form 8812.
Chapters and TImestamps
0:00 Changes from Last Year
1:56 Pending changes in House Bill 7024
4:12 Should you Wait to File Your Taxes?
5:38 What are the income phaseouts?
8:30 Example 1 Form 8812 with CTC & Full ACTC
15:54 Example 2 Form 8812 with partial CTC & ACTC
Other Helpful Videos on the CTC
Form 8812 tutorial with 2 children: https://youtu.be/-xjPtFCfo6A
CTC Support Test: https://youtu.be/M3f1o9eAN08
CTC IRS CP79A Notices: https://youtu.be/g5xXEiqM1Bc
Does my Child Need an SSN: https://youtu.be/RvvwtP4Eu9o
Qualifying Child Standard: https://youtu.be/Ny_7qlykCcU
IRS Form 8862: https://youtu.be/upjWXPmL0Fw
IRS Letter 6419 and the CTC: https://youtu.be/k-V9EmIbujs
Does the CTC change welfare benefits?: https://youtu.be/asFRGvFOoHY
For more videos on CTC and Form 1040 filings, see our playlist:
https://www.youtube.com/playlist?listPLTdpzKOWNutQ9p557YvABqo9LVv-4op4U
For a larger database of tutorials, please visit our website and search for your question:
https://knottlearning.com/
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
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