Bookmark and Share [ [link removed] ]

a { color:#0073AF !important;} a:hover { color:#004673 !important;} <!-- body { font-family: arial; } p { font-size: 12px; } li { font-size: 12px; } h2 { font-size: 24px; font-style: italic;} -->
IRS.gov Banner
IRS Tax Tips April 1, 2024

Useful Links:

IRS.gov [ [link removed] ]

Help For Hurricane Victims [ [link removed] ]

________________________________________________________________________

News Essentials

What's Hot [ [link removed] ]

News Releases [ [link removed] ]

IRS - The Basics [ [link removed] ]

IRS Guidance [ [link removed] ]

Media Contacts [ [link removed] ]

Facts & Figures [ [link removed] ]

Around The Nation [ [link removed] ]

e-News Subscriptions [ [link removed] ]

________________________________________________________________________

The Newsroom Topics

Multimedia?Center [ [link removed] ]

Noticias en Espa?ol [ [link removed] ]

Radio PSAs [ [link removed] ]

Tax Scams/Consumer Alerts [ [link removed] ]

The Tax Gap [ [link removed] ]

Fact?Sheets [ [link removed] ]

IRS Tax Tips [ [link removed] ]

Armed Forces [ [link removed] ]

Latest News [ [link removed] ]

________________________________________________________________________

IRS Resources

Contact?Your Local IRS?Office [ [link removed] ]

Filing Your Taxes [ [link removed] ]

Forms & Instructions [ [link removed] ]

Frequently Asked Questions [ [link removed] ]

Taxpayer Advocate Service [ [link removed] ]

Where to File [ [link removed] ]

IRS Social Media [ [link removed] ]

?

________________________________________________________________________


Issue Number: Tax Tip 2024-25
________________________________________________________________________

*Tax help for new parents*

Parents have special tax situations and benefits. Tax breaks for parenting expenses can result in a lower tax bill and a higher refund. Here are some key things new parents need to know.

*Before filing, new parents should*:


* *Get the child a Social Security or Individual Tax Identification number*
To claim parental tax breaks, the taxpayer must have their child?s or dependent's Social Security number [ [link removed] ], Adoption Tax Identification Number [ [link removed] ] or Individual Tax Identification Number [ [link removed] ]. Confirming a child's birth is the only way the IRS can verify that the parent is eligible for the credits and deductions they claim on their tax return.

* *Check withholding*
A new family member might make taxpayers eligible for new credits and deductions, which can greatly change their tax liability. They can use the IRS Tax Withholding Estimator [ [link removed] ] to check their withholding. Taxpayers should provide their employer with an updated Form W-4, Employee's Withholding Certificate [ [link removed] ], if they want to change how much tax is withheld from their paycheck.

*When preparing to file, check tax credits and deductions*:


* *Child Tax Credit*
Taxpayers who claim at least one child as their dependent [ [link removed] ] on their tax return may be eligible for the Child Tax Credit. For help figuring out if a child qualifies for this credit, taxpayers can check Does My Child/Dependent Qualify for the Child Tax Credit or the Credit for Other Dependents? [ [link removed] ]

* *Child and Dependent Care Credit*
If taxpayers paid someone to take care of their children or another member of their household while they work, they may qualify for the Child and Dependent Care Credit [ [link removed] ] regardless of their income. Taxpayers who pay for daycare expenses may be eligible to claim up to 35% of those expenses with certain limits.

* *Adoption Tax Credit*
This credit lets families who are in the adoption process during the tax-year claim eligible adoption expenses for each eligible child. Taxpayers can apply the Adoption Tax Credit [ [link removed] ] to international, domestic, private and public foster care adoptions.

* *Earned Income Tax Credit*
The Earned Income Tax Credit [ [link removed] ] helps low- to moderate-income families get a tax break. If they qualify [ [link removed] ], taxpayers can use the credit to reduce the taxes they owe ? and maybe increase their tax refund. People who earned $63,398 or less in 2023 may be eligible for this valuable tax credit. For tax year 2023, the EITC is as much as $7,430 for a family with three or more children or $600 for taxpayers who don?t have a qualifying child.

* *Credit for Other Dependents*
Taxpayers with dependents who don't qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. Taxpayers can use the Does My Child/Dependent Qualify for the Child Tax Credit or the Credit for Other Dependents? [ [link removed] ] tool on IRS.gov to help determine if they are eligible to claim the credit. They can claim this credit* in addition to* the Child and Dependent Care Credit and the Earned Income Credit.

?

Back to top [ #top ]

?

________________________________________________________________________

FaceBook Logo [ [link removed] ]??YouTube Logo [ [link removed] ] ?Instagram Logo [ [link removed] ]? Twitter Logo [ [link removed] ] ?LinkedIn Logo [ [link removed] ]

________________________________________________________________________

Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov [ [link removed] ].

This message was distributed automatically from the IRS Tax Tips mailing list. *Please Do Not Reply To This Message.*



?

________________________________________________________________________

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page [ [link removed] ]. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com [ [link removed] ].

This service is provided to you at no charge by the Internal Revenue Service (IRS) [ [link removed] ].


body .abe-column-block {min-height: 5px;} ________________________________________________________________________

This email was sent to [email protected] by: Internal Revenue Service (IRS) ? Internal Revenue Service ? 1111 Constitution Ave. N.W. ? Washington, D.C. 20535 GovDelivery logo [ [link removed] ]
body .abe-column-block { min-height: 5px; } table.gd_combo_table img {margin-left:10px; margin-right:10px;} table.gd_combo_table div.govd_image_display img, table.gd_combo_table td.gd_combo_image_cell img {margin-left:0px; margin-right:0px;}