where do i find all this out for free.
2007-01-13 11:36:25 · 6 answers · asked by tina c 1 in Business & Finance ➔ Taxes ➔ United States
www.irs.gov
Download any forms and instructions.
Also - the have the eligibility requirements for the child credits.
If you have less than $52,000 in adjustable income (line 38 on the 1040), you can file electronically free.
www.irs.gov and then click on the FREE FILING.
They have different sites and it really works!
GOD bless us one and all, always.
CPA-retired
2007-01-13 11:44:37 · answer #1 · answered by May I help You? 6 · 0⤊ 0⤋
The Child Tax Credit only reduces your tax liability, currently by $1,000 per child who is under age 17 as of the end of the year. If phases out on a joint return once your income hits $110,000. It can only reduce your tax liability to $0, however any unused CTC may be recovered with the refundable Additional Child Tax Credit. That is 15% of your earned income above $3,000, up to $1,000 per child under age 17 as of the end of the year, reduced by any CTC that was used. The EIC is a refundable credit, which means that unused credit may be refunded to you. It's based upon your earned income primarily but unearned income may reduce or eliminate it entirely. See IRS Pub 596 for a full discussion of the complex rules and calculations. It's a federal credit so the rules are uniform nationwide. If you are eligible you can claim all three. CA may have a similar credit to the EIC. See the FTB website for more information.
2016-05-23 22:23:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There isn't a child earned income credit. There's a child tax credit, and an earned income credit. You get more from the earned income credit, and have a higher eligibility limit, if you have a child than if you don't.
If you're talking about the EIC, it depends on whether you have one qualifying child or more than one, and what your filing status is. You can make into the $30K's for the year and still qualify.
2007-01-13 14:29:05 · answer #3 · answered by Judy 7 · 0⤊ 1⤋
only way to find out is to go file your taxes and ask questions
2007-01-13 11:47:52 · answer #4 · answered by monique m 1 · 0⤊ 1⤋
By decreasing effort, fishers can often catch more fish. Explain how this can occur.
2013-09-29 15:39:30 · answer #5 · answered by Steven 1 · 0⤊ 0⤋
See IRS publication 596
www.irs.gov/publications/p596
2007-01-13 11:42:13 · answer #6 · answered by WealthBuilder 4 · 0⤊ 1⤋