Can I claim my newborn on taxes 2024?

Tax season is coming to an end in the United States, with all federal (and most state) returns due on Monday, 15 April. For those who don’t think filing a return by the deadline, you can request a free extension that pushes that date back to 15 October. However, those who request an extension should know that it does not apply to any taxes owed to the IRS, and taxes that go unpaid could incur interest and other penalties.

For those who are getting ready to submit an electronic return, provide direct deposit information to receive your return more quickly. Additionally, suppose you were looking to put some of your return into a savings account, with the rest being sent to your traditional checking account. In that case, you have that option, with the IRS allowing filers to provide multiple bank accounts for direct deposit.

Claiming dependents on your return

One question many may have while filing their returns, particularly new parents, is when a newborn can be claimed on a return. Claiming a newborn on your taxes must be born during the tax year you submit a return for. For instance, babies born in 2023 can be claimed on the 2023 tax returns due to the IRS by Monday, 15 April. However, for children born this year, parents and guardians will need to wait until next year to claim them as a dependent.

Newborns make a filer eligible for the Child Tax Payment, a partially refundable tax credit worth up to $1,400. In addition to being born during the tax year, at the other end of the age spectrum, a child cannot be older than seventeen at the end of the tax year (i.e., 17 on 31 December 2023). In addition to biological or adopted children, the IRS allows stepchildren, foster children, siblings (including step-siblings), half-siblings, and other family members to be claimed as dependents.