could you please explain Earned Income Credit (EIC) if i have a 17 year old son and a 2 year old daughter and i am the head of the household. Also, is efile.com a good place to file my income tax?
2007-01-16 12:41:41 · 3 answers · asked by thatdude 2 in Business & Finance ➔ Taxes ➔ United States
The Earned Income credit is money given to low income people who are working. A person who is eligible can get a refund much larger than what they had deducted for taxes. If both of your children are your dependents, you could be eligible if your income is not a lot higher than $38,000 or so. The amount of the credit varies depending on income, is lowest at the bottom and top of the income range, highest somewhere near the middle.
2007-01-16 14:31:30 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
It depends on how much you make in order to get the earned income credit. Visit the site below they give free estimates
2007-01-16 13:06:06 · answer #2 · answered by shaydzofluv 2 · 0⤊ 0⤋
Are you referring to the EIC on the W-2 form? If so this is the amount you have already received during the year that was included in your paycheck. Any EITC you qualify for will be offset by that amount.
2007-01-16 12:50:01 · answer #3 · answered by lotsof? 1 · 0⤊ 0⤋