The IRS form 8812 (Additional Child Tax Credit) is used to claim the additional child tax credit (ACTC) for qualifying children. The ACTC is a tax credit that can help reduce the amount of taxes you owe. The amount of the ACTC depends on your income, the number of qualifying children you have, and the age of your children.
For 2023, the maximum amount of the ACTC is $2,000 per qualifying child. To be eligible for the ACTC, you must meet all of the following requirements:
Here are some important dates to keep in mind for the 2024 Schedule 8812:
2024 Schedule 8812
The IRS form 8812 (Additional Child Tax Credit) is used to claim the additional child tax credit (ACTC) for qualifying children. Here are 8 important points to keep in mind about the 2024 Schedule 8812:
- Due date: April 15, 2025
- Maximum ACTC amount: $2,000 per qualifying child
- Eligibility requirements: Must meet all requirements
- Qualifying children: Must be under age 17
- Income limits: Phase-out begins at certain income levels
- Filing status: Can be claimed by single or married taxpayers
- Required documentation: Social Security numbers for children
- Penalties for errors: May result in reduced ACTC or penalties
For more information about the ACTC and how to claim it on the 2024 Schedule 8812, please visit the IRS website.
Due date: April 15, 2025
The due date for filing your 2024 tax return, including Schedule 8812, is April 15, 2025. This is the same due date for all taxpayers, regardless of their filing status or income.
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If you file your return on time, you will avoid penalties and interest charges.
The IRS charges penalties and interest on late tax returns, so it is important to file your return on time. The penalty for filing a late return is 5% of the unpaid tax for each month or part of a month that the return is late, up to a maximum of 25%. The interest rate on unpaid taxes is the federal short-term rate plus 3%. Filing your return electronically is the fastest and most accurate way to file.
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You can file an extension if you need more time to file your return.
If you need more time to file your return, you can file an extension. An extension will give you an automatic six-month extension to file your return, until October 15, 2025. However, you will still need to pay any taxes that you owe by the original due date of April 15, 2025. To file an extension, you can use Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. You can also file an extension electronically using the IRS website.
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If you owe taxes, you can make estimated tax payments.
If you owe taxes, you can make estimated tax payments throughout the year. Estimated tax payments are payments that you make to the IRS to cover your tax liability for the current year. Estimated tax payments are due on April 15, June 15, September 15, and January 15 of the following year. You can make estimated tax payments online, by mail, or by phone. Making estimated tax payments can help you avoid penalties and interest charges on unpaid taxes.
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If you are unable to pay your taxes by the due date, you can request a payment plan.
If you are unable to pay your taxes by the due date, you can request a payment plan. A payment plan allows you to spread out your tax payments over a period of time. To request a payment plan, you can call the IRS at 1-800-829-1040. The IRS will work with you to create a payment plan that meets your needs.
It is important to note that the due date for filing your 2024 tax return, including Schedule 8812, is April 15, 2025. Filing your return on time will help you avoid penalties and interest charges. If you need more time to file your return, you can file an extension. If you owe taxes, you can make estimated tax payments or request a payment plan.
Maximum ACTC amount: $2,000 per qualifying child
The maximum amount of the ACTC is $2,000 per qualifying child. This means that you can claim up to $2,000 for each qualifying child that you have.
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To be eligible for the maximum ACTC amount, your child must meet all of the following requirements:
The child must be under age 17 at the end of the tax year. The child must be a U.S. citizen or resident alien. The child must live with you for more than half of the year. The child cannot be claimed as a dependent on someone else’s tax return.
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If your child meets all of the above requirements, you can claim the full $2,000 ACTC amount for that child.
However, the ACTC is phased out for higher-income taxpayers. This means that the amount of ACTC that you can claim is reduced if your income is above a certain level.
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The ACTC phase-out begins at the following income levels:
$40,000 for single filers
$50,000 for married couples filing jointly
$25,000 for married couples filing separately -
If your income is above the phase-out threshold, the amount of ACTC that you can claim is reduced by $50 for every $1,000 of income above the threshold.
For example, if your income is $45,000 and you have one qualifying child, you would be eligible for a reduced ACTC amount of $1,500.
The ACTC is a valuable tax credit that can help you reduce your tax liability. If you have qualifying children, you should make sure to claim the ACTC on your tax return.
Eligibility requirements: Must meet all requirements
To be eligible for the ACTC, you must meet all of the following requirements:
1. You must have a qualifying child. A qualifying child is a child who meets all of the following requirements:
- The child must be under age 17 at the end of the tax year.
- The child must be a U.S. citizen or resident alien.
- The child must live with you for more than half of the year.
- The child cannot be claimed as a dependent on someone else’s tax return.
2. You must meet the income limits. The ACTC is phased out for higher-income taxpayers. This means that the amount of ACTC that you can claim is reduced if your income is above a certain level. The ACTC phase-out begins at the following income levels:
- $40,000 for single filers
- $50,000 for married couples filing jointly
- $25,000 for married couples filing separately
If your income is above the phase-out threshold, the amount of ACTC that you can claim is reduced by $50 for every $1,000 of income above the threshold.
3. You must file a tax return. You cannot claim the ACTC if you do not file a tax return. You can file your tax return electronically or by mail.
If you meet all of the eligibility requirements, you can claim the ACTC on your tax return. The ACTC is a valuable tax credit that can help you reduce your tax liability. If you have qualifying children, you should make sure to claim the ACTC on your tax return.
Qualifying children: Must be under age 17
To be a qualifying child for the ACTC, the child must be under age 17 at the end of the tax year. This means that the child must be 16 years old or younger on December 31st of the tax year.
The age requirement is strictly enforced. If the child turns 17 at any time during the tax year, they will not be considered a qualifying child for the ACTC.
There are a few exceptions to the age requirement. A child who is 17 years old can still be a qualifying child if they are:
- A full-time student for at least half of the tax year.
- Permanently and totally disabled.
If your child meets one of these exceptions, they may still be a qualifying child for the ACTC, even if they are 17 years old.
It is important to note that the age requirement for the ACTC is different from the age requirement for the child tax credit (CTC). The CTC is a tax credit that is available to parents of children under the age of 18. Therefore, a child who is 17 years old may be a qualifying child for the CTC, but not for the ACTC.
Income limits: Phase-out begins at certain income levels
The ACTC is phased out for higher-income taxpayers. This means that the amount of ACTC that you can claim is reduced if your income is above a certain level. The ACTC phase-out begins at the following income levels:
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$40,000 for single filers
If you are a single filer and your income is above $40,000, the amount of ACTC that you can claim is reduced by $50 for every $1,000 of income above $40,000.
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$50,000 for married couples filing jointly
If you are married filing jointly and your income is above $50,000, the amount of ACTC that you can claim is reduced by $50 for every $1,000 of income above $50,000.
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$25,000 for married couples filing separately
If you are married filing separately and your income is above $25,000, the amount of ACTC that you can claim is reduced by $50 for every $1,000 of income above $25,000.
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Example
Let’s say that you are a single filer and your income is $45,000. The ACTC phase-out begins at $40,000 for single filers. Therefore, your ACTC is reduced by $50 for every $1,000 of income above $40,000. In this case, your income is $5,000 above the phase-out threshold. Therefore, your ACTC is reduced by $250 ($5,000 x $50).
The ACTC phase-out is important to keep in mind when you are planning your taxes. If you are close to the phase-out threshold, you may want to consider taking steps to reduce your income, such as contributing to a retirement account or making charitable donations.
Filing status: Can be claimed by single or married taxpayers
The ACTC can be claimed by single or married taxpayers. This means that you can claim the ACTC regardless of your filing status.
If you are married filing jointly, you can claim the ACTC for your qualifying children and your spouse’s qualifying children.
If you are married filing separately, you can only claim the ACTC for your qualifying children. You cannot claim the ACTC for your spouse’s qualifying children.
The amount of ACTC that you can claim is not affected by your filing status. The phase-out income limits and the maximum ACTC amount are the same for all taxpayers, regardless of their filing status.
Required documentation: Social Security numbers for children
When you claim the ACTC, you must provide the Social Security numbers for your qualifying children. You can find your child’s Social Security number on their Social Security card.
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If you do not have your child’s Social Security number, you can request a duplicate from the Social Security Administration (SSA).
To request a duplicate Social Security number, you can visit your local SSA office or call the SSA at 1-800-772-1213.
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You can also use the SSA’s online service to request a duplicate Social Security number.
To use the SSA’s online service, you will need to create an account and provide some personal information. Once you have created an account, you can follow the instructions to request a duplicate Social Security number.
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If you are unable to provide a Social Security number for your child, you may still be able to claim the ACTC.
However, you will need to file Form 8396, Certificate for Child Tax Credit Eligibility, with your tax return. Form 8396 is used to certify that you are eligible to claim the ACTC for your child, even if you do not have their Social Security number.
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You can download Form 8396 from the IRS website.
Once you have completed Form 8396, you should attach it to your tax return when you file.
It is important to note that you must provide the Social Security numbers for your qualifying children when you claim the ACTC. If you do not have your child’s Social Security number, you should request a duplicate from the SSA as soon as possible.
Penalties for errors: May result in reduced ACTC or penalties
If you make an error on your tax return that affects your ACTC, you may be subject to penalties. The IRS may reduce the amount of ACTC that you can claim or impose a penalty on you.
The following are some common errors that can lead to penalties:
- Claiming the ACTC for a child who does not meet the eligibility requirements
- Claiming the wrong amount of ACTC
- Failing to provide the Social Security numbers for your qualifying children
- Filing Form 8396 incorrectly
If you are audited by the IRS and it is determined that you made an error on your tax return, you may be subject to penalties. The amount of the penalty will depend on the nature of the error and the amount of tax that is owed.
It is important to be accurate when you claim the ACTC. If you are not sure whether you are eligible for the ACTC or how much ACTC you can claim, you should consult with a tax professional.
FAQ
The following are some frequently asked questions about the 2024 Schedule 8812:
Question 1: Who is eligible to claim the ACTC?
Answer 1: To be eligible to claim the ACTC, you must meet all of the following requirements:
- You must have a qualifying child.
- You must meet the income limits.
- You must file a tax return.
Question 2: What is the maximum amount of the ACTC?
Answer 2: The maximum amount of the ACTC is $2,000 per qualifying child.
Question 3: What are the income limits for the ACTC?
Answer 3: The ACTC is phased out for higher-income taxpayers. The ACTC phase-out begins at the following income levels:
- $40,000 for single filers
- $50,000 for married couples filing jointly
- $25,000 for married couples filing separately
Question 4: What is a qualifying child?
Answer 4: A qualifying child is a child who meets all of the following requirements:
- The child must be under age 17 at the end of the tax year.
- The child must be a U.S. citizen or resident alien.
- The child must live with you for more than half of the year.
- The child cannot be claimed as a dependent on someone else’s tax return.
Question 5: What if I don’t have my child’s Social Security number?
Answer 5: If you do not have your child’s Social Security number, you can request a duplicate from the Social Security Administration (SSA). You can also use the SSA’s online service to request a duplicate Social Security number.
Question 6: What are the penalties for errors on Schedule 8812?
Answer 6: If you make an error on your Schedule 8812 that affects your ACTC, you may be subject to penalties. The IRS may reduce the amount of ACTC that you can claim or impose a penalty on you.
Question 7: Where can I get help with Schedule 8812?
Answer 7: You can get help with Schedule 8812 from the IRS website, a tax professional, or a volunteer tax preparer.
Closing Paragraph for FAQ: These are just a few of the most frequently asked questions about the 2024 Schedule 8812. For more information, please visit the IRS website or consult with a tax professional.
Tips
Here are a few tips to help you claim the ACTC on your 2024 tax return:
Tip 1: Make sure you meet all of the eligibility requirements.
To be eligible to claim the ACTC, you must meet all of the following requirements:
- You must have a qualifying child.
- You must meet the income limits.
- You must file a tax return.
Tip 2: Gather the necessary documentation.
When you claim the ACTC, you must provide the Social Security numbers for your qualifying children. You should also gather any other documents that may be required, such as proof of income or proof of residency.
Tip 3: File your tax return on time.
The due date for filing your 2024 tax return is April 15, 2025. If you file your return on time, you will avoid penalties and interest charges.
Tip 4: If you have any questions, consult with a tax professional.
If you have any questions about the ACTC or how to claim it on your tax return, you should consult with a tax professional. A tax professional can help you make sure that you are claiming the correct amount of ACTC and that you are meeting all of the eligibility requirements.
Closing Paragraph for Tips: By following these tips, you can help ensure that you are claiming the correct amount of ACTC on your 2024 tax return.
Conclusion
The 2024 Schedule 8812 is used to claim the additional child tax credit (ACTC). The ACTC is a tax credit that can help reduce the amount of taxes you owe. The maximum amount of the ACTC is $2,000 per qualifying child. To be eligible for the ACTC, you must meet all of the following requirements:
- You must have a qualifying child.
- You must meet the income limits.
- You must file a tax return.
If you meet all of the eligibility requirements, you can claim the ACTC on your 2024 tax return. The ACTC is a valuable tax credit that can help you reduce your tax liability. If you have qualifying children, you should make sure to claim the ACTC on your tax return.
Closing Message: The IRS provides a number of resources to help you claim the ACTC. You can visit the IRS website or consult with a tax professional for more information.