2007-01-08 20:09:52 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It totally depends on the amount of income. The EIC is based on your earned income and adjusted gross income. The Child Tax Credit gives you $1000 per child under 17 years old. It only reduces your tax and is nonrefundable (cannot reduce your tax below zero). The Additional Child Tax Credit takes any amount that would reduce your tax below zero and (based on your income) figures what amount, if any, can be added to your refund. If your income is over $11300, then you get 15% of the amount over $11300. The 3rd url below is the actual form and you can just follow the lines to figure how much you should get.
2007-01-08 20:25:29 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If your combined income is between 13,000 and 15,000, you could maximize at about $5,000. Child tax credit is non-refundable and can only ofset taxes actually owed.
2007-01-09 00:41:04 · answer #2 · answered by 3eleven 4 · 0⤊ 0⤋
YOU'LL GET ALL THAT WAS FEDERALLY WITHHELD
2007-01-09 11:27:06 · answer #3 · answered by (_)iiiiD 4 · 0⤊ 0⤋