Question
A client has three dependents: a son age 5, a daughter age 10, and a daughter age 17. The oldest daughter is about to start
A client has three dependents: a son age 5, a daughter age 10, and a daughter age 17. The oldest daughter is about to start college and a refund would be really nice for the taxpayer given how expensive sending his daughter to college to live is turning out to be. The taxpayer's tax situation is such that he would qualify for the additional child tax credit (refundable credit) if he were claiming three dependents for the child tax credit. With two dependents claimed, he would not qualify for the additional child tax credit. Your friend heard about how the additional child tax credit works and asks you to include all three as qualifying children for the child tax credit and the additional child tax credit. What would be your response to the client? If what he is asking is not correct according to tax law, what are the consequences of doing what he is asking? What form requires you, the tax preparer, to report information that indicates you verified the listed dependents qualify for the child tax and additional child tax credit
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