If you have children or other dependents and are eligible to claim them on your tax return, there are a few things you should know before you file your federal income tax return.
Child and dependent tax benefits are some of the most common benefits claimed each year on federal income tax returns. If you don't know which ones may be eligible, you can use the interactive online tax assistant.
In addition, you should use the IRS Children's Tax Benefits Comparison Chart to help you with the basic eligibility rules that apply to:
Obtain a Social Security Number (SSN) or Social Security Number (TIN) for all qualified dependents.
If the qualifying dependent has an ITIN that will expire before the end of the year or does not yet have one assigned, you should immediately submit a Form W-7, Request for IRS Individual Taxpayer Identification Number to ensure it is available when you file.
Sometimes it can take up to 11 weeks to process an ITIN application. Be sure to check on irs.gov that IRS arrears have not extended these deadlines. Review the rules now and apply now, so you don't lose this credit or delay any refunds. ATIN applications generally take 4-8 weeks.
Regardless of the credit you may apply for, learn more about what ID is needed for dependents now to avoid problems later.