In 2010, Additional Child Tax Credit can help you get more refund from IRS or can reduce your tax liabilities significantly. But such credit for tax cannot be used by everyone. There are certain IRS rules behind this form of credit for tax returns.
Additional Child tax credit is for individuals who get less than the full amount of the 2010 tax credit for child. For getting the additional you should be sure that you figured out the amount of child tax benefit, if applicable, since that information is very important in finding how much additional credit can you get.
The additional child credit is available to the US taxpayers with qualifying children. Here are the rules –
1. First and foremost, a qualifying child must be under the age of 17 before the end of the 2010 tax year and be a resident or citizen of the United States. Also it is highly important that you must also be able to claim this child as a dependent on your tax return.
2. You can receive a refund from IRS through the additional child tax credit for up to 15% of your total earned income over $11,750.00 and under the income limitations.
Here are the income limitations that you must be aware about:
a. Married filing jointly- $110,000
b. Single, head of household-$75,000
c. Married filing separately-$55,000
So one of the above amounts will be applicable to you depending on how you are filing the 2010 returns – Jointly or separately.