i have heard that you get $1000.00 for each qualifying child
2006-12-28 15:20:47 · 7 answers · asked by cmrosier6 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
You only get 1000.00 credit for each child, that does not mean you get that in return. However, you should definately file because with children and your income, you do qualify for eic.
You will probably get about what you made. Seems odd, but thats the way it is. Happy refund!!!
2006-12-28 15:44:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
the $1000 you heard is for the child tax credit not the EIC.
You cannot get any money back from the child tax credit, and the EIC varies from $0-$4400.
Ok, 2 months, lets guess at some of the amounts you may have earned. (Filing EIC for 2 children)
$1000 earned = $410 EIC
$2000 earned = $810 EIC
$3000 earned = $1210 EIC
$4000 earned = $1610 EIC
$5000 earned = $2010 EIC
Just add $400 for every $1000 earned(upto $4400)
Hope this helps.
2006-12-28 23:42:35 · answer #2 · answered by welshman in texas 2 · 0⤊ 0⤋
Check Tax estimator @ http://www.hrblock.com/taxes/tax_calculators/index.html?calcIndx=1#top
It will tell you what to expect back on your taxes.
And yes you will get EIC if you have custody of your children , or if your divorced and your EX doesnt have it in the divorce pepers he gets to claim the kids on his income taxes. And even if he gets to claim them as a deduction you probally can still use them for your EIC, you wont need to use them as deductions though it will make your income lower which equals less EIC. Use the site I listed and check what your refund will be both ways. Then you will know how to claim the kids.
2006-12-29 01:05:03 · answer #3 · answered by emberly 1 · 0⤊ 0⤋
Here is the site where you can estimate how much you will get. You have to answer a few questions and it will tell you the estimate. Make sure you enter in 0 where there is no answer. It's based on 2005, but it should be close to what you may qualify for.
http://apps.irs.gov/app/eitc2005/SetLanguage.do?lang=en
2006-12-29 00:29:29 · answer #4 · answered by Mindiwe 2 · 0⤊ 0⤋
If you worked and earned money, you have to file. You will probably get everything you paid in back. Plus you may eligible for earned income credit and also for child care credits. Make sure you check on these things before you mail in your return.
2006-12-28 23:29:55 · answer #5 · answered by Miss G 3 · 0⤊ 0⤋
Depending on the the state it can range anywhere from 1000-2500...I live in tx and recieved about 1000 for my son..
2006-12-28 23:28:47 · answer #6 · answered by happy2BAlive!! 2 · 0⤊ 0⤋
My son is getting 2000 back and he only has 1 child and only made 5,000 last year.
2006-12-28 23:24:55 · answer #7 · answered by cbwidow1 2 · 0⤊ 0⤋