Income tax is the main part of country’s income. Concession on income tax is given by each government to its citizens based upon certain conditions. Child tax credit is one among them. This is the tax credit given to the income holder based upon the number of dependants he has. The condition differs from each country.
The main condition for the dependant is that he should be the dependant only to this family and should not have claimed for any other family. As this is calculated based on the gross income levels of the family, most of the families do not get this benefit or face difficulties in getting the entire amount. There are many agents and commissions that help the person and assist them in getting the complete tax credits. Child tax credit is one of the easy ways of tax credit for most of the families.
The most interesting part of this is that child tax credit can be earned to any number of dependants the person has, he can claim for each of them if they are the dependants of him. But at this case the person may become eligible only to the minimum payable tax. There are certain rules that the person should meet for him to get the credit. There are also some limitations for getting this credit. A married couple when both are applying, the income level should not go beyond $55,000 a year. When a single household manages the whole family his income should not go beyond $75,000.
Even widowers can apply and become eligible for getting the child tax credit. Instructions on how to fill the form and how to apply would be available online in detail. The form can also be obtained online. So qualifying family can apply and take the benefits given by the government for the suffering people.
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