Living abroad? Good news! US citizens can still claim the Child Tax Credit. How this helps your family save on expenses like food and education.
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The Child Tax Credit lowers your taxes and can even give refunds. Families with kids under 17 can claim up to $2,000 per child by 2025.
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Your child is under 17. They live with you for over half the year. They’re a U.S. citizen with a Social Security number. You provide more than half their support.
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Joint filers: Income under $400,000. Other filers: Income under $200,000.
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– Claiming the Foreign Earned Income Exclusion (FEIE)? Refunds may be reduced. – Skip the FEIE? You can still claim the non-refundable portion.
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Child and Dependent Care Credit: Helps with childcare costs while you work. Earned Income Tax Credit (EITC): Low taxes for families with moderate incomes.
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File your tax return by April 15. List your child as a dependent with their Social Security number. Choose whether to claim the FEIE or the full credit.
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Plan ahead, understand the rules, and explore other tax credits. Whether at home or abroad, the Child Tax Credit helps ease the cost of raising kids.
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Read full article about US families living abroad can claim the Child Tax Credit.
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