How much money do you get after claiming 2 kids?If you have 5 kids how much can you get for the other kids after you file for the fiirst 2? I heard its $100. a piece after the first two .
2006-12-25 22:12:27 · 3 answers · asked by AMBRASIA C 2 in Business & Finance ➔ Taxes ➔ United States
Not sure what you're asking. You get a $3300 exemption and a $1000 tax credit per qualifying child, but if the credits total more than your total taxes for the year, it only reduces your taxes to zero, you don't get the rest in cash unless you qualify for something called the "additional child tax credit". With three or more children, you should check that out.
If you're talking about the Earned Income Credit, there are different amounts for the same income with no children, one child, and two or more children - nothing extra for children over the first two.
2006-12-26 13:26:16 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Go to www.irs.gov and search by "earned income credit". If you claim head of household you will get even more. My understanding is that after the first two kids, they don't give you anything for the rest. I have five, too.
2006-12-25 23:11:57 · answer #2 · answered by Peter 5 · 1⤊ 0⤋
A proper answer to your question requires information that you have not supplied. You should consult with a tax professional in your community. They will very likely get you large refund.
2006-12-26 02:05:17 · answer #3 · answered by ? 6 · 1⤊ 0⤋