What does SCH 8812 mean?
additional child tax credit
Use Schedule 8812 (Form 1040) to figure the additional child tax credit. The additional child tax credit may give you a refund even if you do not owe any tax.
Do I qualify for Form 8812?
If you have children and a low tax bill, you may need IRS Form 8812 to claim all of your Child Tax Credit. If the total credit amount for all of your qualifying children exceeds the amount of tax you owe for the year, the IRS requires you to prepare Schedule 8812 to claim this amount.
What is the child tax credit for 2014?
For 2014, the maximum EITC amount available is $3,304 for taxpayers filing jointly with one child; $5,460 for two children; $6,143 for three or more children and $496 for no children. Child Tax Credit.
How do I fill out the additional child tax credit?
To claim the Additional Child Tax Credit, you need to complete Schedule 8812 and attach it to your Form 1040 or Form 1040-SR. But don’t worry about memorizing all of the rules and limitations for claiming this credit.
Who qualifies for additional tax credit?
Be 16 years or younger by the end of the tax year. Be a U.S. citizen, national, or resident alien. Have lived with the taxpayer for more than half of the tax year. Be claimed as a dependent on the federal tax return.
Is unemployment considered earned income?
Earned income does not include amounts such as pensions and annuities, welfare benefits, unemployment compensation, worker’s compensation benefits, or social security benefits.
What is a combat pay?
Combat pay includes all military pay—including wages earned as well as any reenlistment or other bonuses, etc. — received during a month in which a service member was stationed in a combat zone for at least one day.
Why did I get the additional Child Tax Credit?
If you cannot take the full Child Tax Credit because you owe less income tax than the amount of the credit, you may be able to claim the Additional Child Tax Credit. To qualify for this credit, you must have more than $3,000 in earned income. The Additional Child Tax Credit is based in part on the Child Tax Credit.