Martin Cantu, EA - Tax Consultant - Tax Relief Services Blog

Some taxpayers may benefit from the 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. The maximum credit amount is $500 for each dependent who meets certain conditions. These, include: Dependents who are age 17 or older. Dependents who have individual taxpayer identification numbers. Dependent parents or other qualifying relatives supported by the taxpayer. Dependents living with the taxpayer who aren’t related to the taxpayer. The credit begins to phase out when the taxpayer’s income is more than $200,000. This phaseout begins for married couples filing a joint tax return at $400,000. A taxpayer can claim this credit if : They claim the person as a  dependent  on the taxpayer’s return. They cannot use the dependent to claim the child tax credit or additional child tax credit. The dependent is a U.S. citizen, national or resident alien. Taxpayers can claim ...

We call it IRS Tax Relief . Others call it IRS Tax Resolution. Large law firms call it Tax Controversy. In any case, you're looking for help. No matter the label, the problem is still the same. You owe money to the IRS and you haven't made any arrangement to pay that debt. Each individual situation may be a little different, with some more urgent than others, but the facts are basically the same. As you conduct your search, be aware of a couple of things: 1. I've yet to see a taxpayer satisfied with the performance of a national tax service. Plain and simple, they're just marketing machines interested in taking your money instead of providing you service. 2. IRS Tax Relief, IRS Tax Resolution and Tax Controversy are specialized areas of the law. Retain someone who provides these services on a routine basis. The IRS has a very specific set of rules. You can accomplish a lot by knowing the rules, and you'll flounder if you don't. 3. IRS Tax Relief is not...