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The Pros And Cons Of Tax Hikes

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The distinctions of these test are important because, in addition to being a tax-saving exemption, “a qualifying child also factors into claims for head of household status, the child tax credit, the child and dependent care credit, the exclusion from income for dependent care benefits and the Earned Income Tax Credit, or EITC” (Bell, 2011). If taxpayers only follow the guidelines of these test, it would have prevented the Protecting Americans from Tax Hikes (PATH) Act of 2015. Because of this act, taxpayers who claimed EITC or the additional child tax credit will have to wait until after February 15 for their tax return to be reviewed. I believe that during this time, the IRS verifies taxpayer’s dependents. Antoinette Reference: Bell,
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