Special Needs Child

What is a 'Special Needs Child'

A special needs child is child who has been determined to require special attention and specific necessities that other children do not. The state decides upon this status and offers benefits that follow a special needs child because it is believed the child will not be adopted if assistance is not provided.

BREAKING DOWN 'Special Needs Child'

Special needs children typically receive some sort of additional tax credit or deduction for the guardian.

RELATED TERMS
  1. IRS Publication 972: Child Tax ...

    A document published by the Internal Revenue Service (IRS) that ...
  2. Child Support

    The monetary payments that are made from one ex-spouse to another ...
  3. Child Tax Credit

    A credit given to taxpayers for each dependent child that is ...
  4. Adoption Credit

    A federal tax credit that may be claimed by federal taxpayers ...
  5. Income Shifting

    A strategy of moving a person's income from a high income bracket ...
  6. Dependent Care Credit

    A nonrefundable tax credit offered to taxpayers who pay out-of-pocket ...
Related Articles
  1. Personal Finance

    Opening Your Child's First Bank Account

    Teach your children to save up to meet their spending - and saving - goals.
  2. Options & Futures

    How To Teach Your Child About Investing

    Find simple and easy instructions on how to introduce your kids to the stock market.
  3. Taxes

    New Baby, New Tax Break

    Delivering a new baby also delivers a $1,000 child tax credit - and that's just the start!
  4. Budgeting

    Child Care Across The Country

    Some states require much larger child care budgets than others.
  5. Taxes

    How To Claim A Dependent On Your Tax Return

    If you are a caregiver, get to know the rules for claiming a dependent before filing your taxes.
  6. Budgeting

    The 5 Most Expensive States for Child Care

    To get a better sense of how child care costs can fluctuate, here's a look at the costs of child care across the country.
  7. Credit & Loans

    Help Your Kids Understand Money

    These simple tips will help you raise financially savvy kids.
  8. Savings

    5 Ways To Save On Child Care Costs

    Child care costs can be a shock to new and expecting parents, but are some programs in place to help with the first few years.
  9. Entrepreneurship

    Should You Hire Your Kids to Work for You?

    If you own a small business, hiring your kids is a no-brainer. But there may also be reasons not to. Here are six questions to ask yourself.
  10. Personal Finance

    What to Do if You Don't Have a College Fund for Your Child

    Learn how your credit, equity in your home, credit card habits, and other resources can all impact your child's ability to pay for school.
RELATED FAQS
  1. Are Social Security survivor benefits for children considered taxable income?

    Learn why receiving Social Security survivor benefits on behalf of children does not affect income tax for a surviving parent ... Read Answer >>
  2. How much does a dependent reduce your taxes?

    Learn the qualifications for claiming a dependent on your income taxes and the amount by which a dependent reduces your tax ... Read Answer >>
  3. What options do I have to save for my child's education?

    There are numerous options available to invest savings for a child's education: State-sponsored "529" college savings plans: ... Read Answer >>
  4. What is the difference between a write-off and a deduction?

    Understand the differences between a tax write-off and a tax deduction. Learn how each one works to reduce income taxes and ... Read Answer >>
  5. How can I start an IRA for my child?

    The Roth IRA is hands-down the most attractive retirement plan available for people with at least 15 or more years until ... Read Answer >>
  6. What are the requirements to file a tax return as a qualifying widow?

    Learn about the qualifying widow/widower tax filing status, and how an individual qualifies for using this special tax status ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center