Everything you need to know about child tax credits and the 2022 tax season
The tax filing deadline is past, but here’s if you qualify for early child tax credit payments, how to prevent fraud, and what to keep in mind for the upcoming tax filing season.
During the videoconference: “IRS Report on Advanced Child Tax Credit Payments and Upcoming Tax Filing Season” hosted by Ethnic Media Services, Ken Corbin, an official with the Tax Collection Service (IRS), recalled that this year occurred until May 17, to make the tax return.
“What happened is that many taxpayers requested additional time, which expired on October 15.”
However, there are certain aspects that you must consider.
This season, the 2021 Rescue Plan improved the Tax Credit for Children, one of the most widely used tax credits in the country, from $ 2,000 to $ 3,000 for children ages 6 to 17; and $ 3,600 for children under 6 years of age.
“Taxpayers can take advantage of this credit, even if they have no earned income or did not pay income taxes.”
This credit for children is expected to help more than 39 million householdsCorbin said.
“There are three tools available for the child tax credit that are on the irs.gov home page. These are the eligibility wizard, which will help you determine if you are eligible. The second tool is the Non-Filers Tool, which will allow you to provide the IRS with the information we need to figure your child tax credit.
“And the third tool is the Child Tax Credit update portal, which allows you to obtain updated information.”
Corbin pointed out that the eligibility assistance tool is particularly helpful for taxpayers who are not required to file federal taxes, and have not yet filed, including in tax year 2019.
“This includes those who experienced homelessness, low income and other groups in need.”
He specified that although they are not exempt from seizure by non-federal creditors, some states and financial institutions have chosen to protect these payments.
And he stressed that the IRS in January 2022 will send this year’s recipients of the advance payments of the child tax credit and economic impact, a letter informing them how much they received in 2021.
“This information is important for you to keep to make sure your 2021 returns match the IRS records.”
He emphasized that these payments only cover half of the credit to which they are entitled, and to receive the other party they must do their 2021 taxes. “
Do youUndocumented parents can qualify if youHave a child born or not born in the country?
“To be eligible for the Child Tax Credit, a parent or guardian must have a social security number. For the children or the other parent, they must have what we call an individual taxpayer identification number or item.
On the other hand, he said that childless workers may qualify for the earned income tax credit.
“The maximum credit is up to $ 1,502, and can be claimed by eligible workers who are at least 19 years old, but full-time students under the age of 24 do not qualify.”
He pointed out that single and married couples with social security numbers can claim their earned income credit, even if their children do not have insurance.
“The main message is to file taxes; and for any questions, visit the section of frequently asked questions in irs.gov ”.
Fraud prevention
Susan Simon, IRS customer assistance officer, asked to visit irs.gov/security to see the steps taxpayers can take to protect themselves from identity theft and claim the money that is rightfully theirs.
“One way we can reduce fraud and help taxpayers receive their refunds, in a way that fast, easy and secure, is to encourage people to open a bank account for direct deposit”.
He added that another important thing is to make sure the individual tax identification number is correct. “Those people who do not have a social security number and who have received an ITIN, an individual tax identification number, must ensure that it has not expired for tax years, 2018, 2019 and 2020.”
And if they didn’t file a return in any of those years, their ITIN will expire and they will need to be renewed. “Do not wait to do it until you are due to file your taxes because that will encourage your refund and cause it to be withheld.”
And he said his site: irs / gov / getready is available in 8 languages. “It’s a great place for taxpayers to find the information they need to file tax returns.”
Simon encouraged everyone to register their tax account online at irs.gov.
“This is something new. It allows taxpayers to securely access their personal tax information. They will also be able to do things that normally require going to our offices; or call and wait for the phone to be answered. So we encourage everyone to go to the irs.gov site; and see if they can set up an account online. ”
For any questions you can call the IRS at 800-829-1040.
