qualifying child

qualifying child definition - business

qualifying child

A person who satisfies four criteria established by the IRS for relationship, residence, age, and support. Being able to claim a qualifying child may enable a taxpayer to claim several tax benefits, such as head of household filing status, exemption for a dependent, the child tax credit, the child and dependent care credit, and the earned income credit.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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