up to how many children can you claime on your taxes to get the EIC. I was told up to 2 and then some has told me up to 3. So iam pretty confused..could someone help me out here please. (thanks)
2006-11-06 12:46:39 · 5 answers · asked by froglegs25276 1 in Business & Finance ➔ Taxes ➔ India
This is a complex question, and I'll try to answer it briefly...
First, you do not NEED a qualifying child to claim EIC. There are provisions for a low income earning taxpayer to claim it. As for the NUMBER of children, the regular EIC limits it to 2, but again, there are additional credits that can be taken for more then 2 depending on the expense, your income, and so forth.
If you go to irs.gov, ro unclefed.com, there are explanations.
See IRS Publication 596.
The easiest way is to use a commerical tax prep software like TaxCut or TurboTax as they compute the amount for you, and prints the proper forms to be used.
One more thing - some states (like mine, Wisconsin) requires a qualifying child to claim EIC at the state level. For Wisconsin, the state credit is merely a percentage of the federal credit. Again though, if you've claimed EIC at the federal level and did not have a qualifying child, you cannot claim EIC in Wisconsin.
I'm sure this is perfectly clear for you - sorry. Now you know why tax preparers go nuts after about four months of doing this every year LOL
2006-11-06 13:05:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Income limits for the EIC are different for someone with no qualifying children, one qualifying child (higher than if no child), or more than one (still higher). A third child does not change your eligibility for, or the amount of, your EIC.
Additional children can allow you to get more money from credits relating to children.
2006-11-06 13:21:51 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
The tax regulation cite an earned income limit with no children, one child and two or more children. There is no difference in the earned income limit for two children or three or ten.
2006-11-06 23:06:15 · answer #3 · answered by waggy_33 6 · 0⤊ 0⤋
you quite could attempt getting the info quite of turning on Rush and his friends 24/7. Granted, a minority of illegals do get the EIC. yet maximum do no longer. And in the event that they're getting the EIC, then they're paying taxes--so there is going one among your super propaganda balloons--POP! you don't get to have it the two procedures. lol
2016-12-10 03:56:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Stop functioning on gossip, it is always obsolete in short order anyways . . . go to the source
http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=0&rf=0&oq=&qt=EIC
2006-11-06 12:56:41 · answer #5 · answered by kate 7 · 0⤊ 0⤋