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Level 1
December 7, 2019
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Why does program give $500 for children over 18 claimed on parents taxes

  • December 7, 2019
  • 5 replies
  • 107 views
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Best answer by Accountant-Man

Because the new tax law says so beginning in 2018.

5 replies

Accountant-Man
Level 13
December 7, 2019

Because the new tax law says so beginning in 2018.

** I am "Elevating with Intention!"
Taxprohere
Level 7
December 7, 2019
Those tricky tax laws, always getting in the way of tax preparation.
AshleyatIntuit
Level 9
December 7, 2019

i don't know if this applies for what you're asking but found this via google https://www.forbes.com/sites/kellyphillipserb/2018/08/28/irs-issues-guidance-on-new-500-credit-for-d...  it reads in part, "The Tax Cuts and Jobs Act (TCJA) made a number of changes that affect the tax burden of families. However, those changes did lead to some questions. Today the Internal Revenue Service (IRS) announced that it intends to issue proposed regulations to clarify who is a qualifying relative for the new $500 credit for dependents and head of household filing status."