For low income families that work and file a tax return at the end of the year i know that there is a certain bracket that you fall into that determines how much you get back.It doesnt work like the more you make the more you get back but along the lines of "payed in more than most low income people but not enough to live properly" so these people get more money back at the end of the year.Does anyone know what this bracket is?
2006-08-05 14:43:34 · 4 answers · asked by alecnaaron 3 in Business & Finance ➔ Taxes ➔ United States
Its EARNED income credit and its not welfare.Only people who WORK can get it.
2006-08-09 13:37:02 · update #1
I think you might be talking about earned income credit. Depending on your situatuion, you might get more income tax back then you had withheld.
2006-08-05 15:03:34 · answer #1 · answered by The Man 5 · 0⤊ 0⤋
To be able to qualify on getting Earned Income Credit you must have children that live in you home. The bracket is from $1.00 to $30,000.00 per year of earned income aproximately.
2006-08-05 22:47:55 · answer #2 · answered by Trigueña 6 · 0⤊ 0⤋
I can tell you exactly what your tax is or isn't, and what you will owe or get refunded to you. Contact me and tell me your yearly income, pay period, marital status, number of dependants, and if you have any deductions you may think is deductable, tell me those too, also tell me the number of allowances you claimed on your W-4 that you filled out for your employer, and I will tell you your tax bracket, and the refund you can expect for the end of the year. Let me know!
2006-08-06 01:32:07 · answer #3 · answered by Josh 4 · 0⤊ 0⤋
Unearned income, another name for Welfare, is for someone who makes less than they need to make to support children...
...the government helps you out...
2006-08-09 20:21:44 · answer #4 · answered by Rada S 5 · 0⤊ 0⤋