 internal revenue service IRS tax news IRS provides guidance whoa hold on right there beware of who is offering you guidance some people like to guide you off a cliff just for the thrill of watching you fall others just watch your money well how about the IRS what do they want dad say it's a little from column a little from column B but wait a sec aren't you offering us guidance right here and now well yeah I guess but I recommend not taking anyone's word for it including mine best to do our own research but isn't that a recommendation or guidance well I guess so but you don't have to take my recommendation if you don't want to but isn't that a recommendation or guidance not to take your recommendation if we don't want that back to the text smarter IRS provides guidance for residents of Puerto Rico to claim the child tax credit IR 2022-105 May 6 2022 Washington the internal revenue service today issued guidance for certain individuals in Puerto Rico on how to file and claim the child tax credit payments that they are entitled to receive under the American Rescue Plan Act quote it's important for residents of Puerto Rico to know that starting with the tax year 2021 having only one child qualifies you for the child tax credits in quotes at IRS Commissioner Chuck Redick quote we want every one in Puerto Rico who's entitled to the benefit to file to receive the child tax credit in quote residents of Puerto Rico must file a federal tax return with the IRS to claim the child tax credit the credit can be claimed on form 1040 PR which is in Spanish I'll try to read it anyways planilla para la declaración de la contrabusión federal sobre el trabajo por cuánta propia and then there's also form 1040 SS US self-employment tax return form 1040 US individual income tax return or form 1040 SR US tax return for seniors there's links to all those tax returns here form 1040 PR is a Spanish language form form 1040 and form 1040 SR have Spanish language versions one of these tax returns can be filed to claim the child tax credit even after last month's filing deadline in fact families who don't owe taxes to the IRS can file their 2021 tax return and claim the child tax credit for the 2021 tax year at any point until April 15th 2025 without any penalties revenue procedure 2022-22 there's a link to that here provides details for bona fide residents of Puerto Rico who have children but do not have a 2021 federal tax filing requirement providing them with a simplified way to file one of these tax returns with the IRS to claim the child tax credit they may follow one of the simplified procedures announced today if their income for taxable year 2021 is completely exempt from taxation because it is from sources within Puerto Rico their modified adjusted gross income for purposes of the child tax credit is less than or equal to $1,500 if married and filing jointly or filing as a surviving spouse $112,500 if filing as head of household and $75,000 if filing in a single filer or is married and filing a separate return they are eligible to claim the child tax credit in an amount greater than zero they are a US citizen or resident alien or are treated as a United States residents they are not required to file a form 1040 PR form 1040 SS form 1040 or form 1040 SR for tax year 2021 such as the report tax on self-employment income and they have not already filed a paper or electronic form 1040 PR form 1040 SS form 1040 or form 1040 SR for taxable year 2021 so you got that those are the rules those are the rules make sure you got those in mind memorize those things so the simplified filing procedure a direct eligible form 1040 PR and form 1040 SS filers to follow the instructions for those who accept that they are not required to report their modified adjusted gross income on line one of part one of the tax return eligible form 1040 and form 1040 SR filers are directed to follow the instructions for those forms except that they are not required to report their modified adjusted gross income on lines one through three of schedule 8812 form 1040 credits for qualifying children and other dependents form 2021 the American rescue plan increased the child tax credit from $2,000 per qualifying child to $3,600 dollars for children ages five and under at the end of 2021 and $3,000 for children ages six through 17 at the end of 2021 the American rescue plan also made the credit fully refundable this means that bona fide residents of Puerto Rico can claim the full amount of the credit from credit for taxable year 2021 even if they had no income and paid no US social security taxes all filers may file a schedule LEP form 1040 request for change in language preference also available as an exo LEP formulario 1040 SP in Spanish solicitude para cambiar la preferencia de idioma with their tax return to request a change in language preference for further communications from the IRS for more information please visit irs.gov to search for forms and instructions in Spanish you can take a look at the forms instructions and publications there's a link to that here there's links to all these other wonderful forms in Spanish and English and what not just a variety of forms and publications and reading materials for everyone it's great and they'll be a link to this in the description