What is Schedule 8812 ?
Schedule 8812, part of IRS Form 1040, is essential for claiming tax credits related to qualifying children and other dependents. This form allows you to calculate the Child Tax Credit, Credit for Other Dependents, and the Additional Child Tax Credit. By completing Schedule 8812, you can maximize your tax benefits, potentially leading to a refund or reducing your tax bill. It also helps report advance child tax credit payments and determine any additional credits for which you may qualify.
What is Schedule 8812 used for?
Schedule 8812 is essential for taxpayers with dependents. Here's what it's used for:
- Child Tax Credit (CTC): Calculate the credit amount for qualifying children.
- Credit for Other Dependents (ODC): Determine the credit for other dependents.
- Additional Child Tax Credit (ACTC): Claim a refundable credit if the CTC exceeds your tax owed.
- Reporting Advance Payments: Report advance child tax credit payments received and check if any excess payments need repayment.
How to fill out Schedule 8812 ?
- 1
Enter your name and social security number at the top of the form.
- 2
Complete Part I-A to report qualifying children and their ages.
- 3
Calculate the child tax credit (CTC) and credit for other dependents (ODC) using amounts from Schedule 1 (Form 1040).
- 4
Add lines 4 and 5, then subtract this sum from line 3.
- 5
If applicable, report any Schedule K-1 amounts and complete the appropriate sections.
- 6
Enter the result on line 18a of Schedule 8812 if prompted.
Who is required to fill out Schedule 8812 ?
Individuals with children must complete Schedule 8812 when filing their tax returns to claim the Child Tax Credit and report advance child tax credit payments received in 2021.
This form is required for taxpayers with dependent children filing Form 1040, 1040-SR, or 1040-NR.
When is Schedule 8812 not required?
You don't need to use Schedule 8812 if you don't have qualifying children or other dependents. Additionally, if your total child tax credit does not exceed your tax liability, this form isn't required. If you don't owe federal income taxes and the total credit amount is less than your tax liability, you can skip this form as well.
When is Schedule 8812 due?
The deadline for Schedule 8812 is April 15th each year. If April 15th falls on a weekend or holiday, you have until the next business day to file. If you have an extension for Form 1040, that extension also applies to Schedule 8812. Filing late can delay your refund and may lead to penalties or interest charges.
How to get a blank Schedule 8812 ?
To obtain a blank Schedule 8812 (Form 1040), issued by the Internal Revenue Service (IRS), simply visit our platform. We have this form ready for you to fill out and download. Remember, our website helps with filling and downloading forms, but it does not support filing.
Do you need to sign Schedule 8812?
No, you do not need to sign Schedule 8812. This form calculates credits and is attached to your Form 1040, which is the only document that requires a signature. However, it's always a good idea to check for the latest updates from the IRS. With PDF Guru, you can fill out Schedule 8812, download it for your records, and manage your forms efficiently, but remember, submission is not supported through our platform.
Where to file Schedule 8812 ?
To submit Schedule 8812, attach it to your Form 1040, Form 1040-SR, or Form 1040-NR. If filing electronically, include it with your federal income tax return.
For paper submissions, mail the completed form to the IRS address specified in the general instructions. Consider using certified mail to keep track of your return and confirm its delivery.
