Child related Tax Benefits Chart

[kcjenkins]

I noticed this Child related Tax Benefits Chart on the IRS website, & thought I would share it with you all.

Handy to print for a client with questions.

http://www.eitc.irs.gov/central/childbenefit/

[jainen]

>>Handy to print for a client with questions.<<

I think it's an odd chart. First of all, it should be labeled QUALIFYING Child Related Tax Benefits, because it doesn't say anything about children as qualifying relative. And that's where most client questions come up, so in that sense it's kind of misleading. For example, it is not true that a child must live WITH the taxpayer for more than half the year to claim Head of Household; a qualifying relative might live there in some different months. Similarly, a dependent child does not necessarily require one of those specified relationships. And even with a qualifying child these benefits are not available to all taxpayers due to income limitations, tie breaker rules, etc.

Note that all the boxes in each category are the same anyway, except a couple for age and a couple for support. So all in all I think there are better ways to explain things to a client.

[Marie]

The chart says qualifying rules for tax year 2008. Are they the same for 2009?

[kcjenkins]

I expect the page will be updated soon for 2009.

[taxguy057]

Great piece of reference material.....THX!