If you get back nothing for your federal state tax whitholding, do you still get money back for having a child? I think its called EIC, im not sure,. I got a Zero back for my federal state tax whithoilding, and someone told me that i cant claim my son and get money back for having him. Is that true?
2007-01-29 03:48:38 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
you get the EIC even if you do not owe taxes, its a gift from uncle sam for low income worker. the only thing is, is that you must have a paycheck. so that why, even if you do know owe taxes, or did not pay them, if you have a paycheck, file a tax return, and you can claim it. (i assume you cannot be claimed as a dependent on someone Else's return, and you did not make a whole lot of money for the year)
2007-01-29 04:05:54 · answer #1 · answered by Jen 5 · 0⤊ 0⤋
I'm not sure I'm clear what you're asking, but I'll answer what I think your question is: are you eligible to receive any additional money from the IRS even if you had no federal withholding and no other tax liability? You're not eligible for the "child credit" ($1,000 per eligible child) because that's not considered as a refundable credit. However, if your income is low, you may be qualified for the "earned income credit". That particular credit is considered "refundable", meaning that even though you had no federal withholding, the federal government will send you a refund check based on the earned income credit (EIC) tables that you'll find in the instructions for Form 1040-the post office has the instruction books, and it also can be found online at www.irs.gov.
2007-01-29 03:55:01 · answer #2 · answered by SuzeY 5 · 0⤊ 0⤋
Good Gravy NO! I claim expempt all year - paid no taxes in (both state and federal). And I made over 25,000 and still am getting over $4,000 back with having 3 children. And this was the case even when I had 1 child...only it wasn't quite as much I got back because of course you get more eic the more children you have. You still get the EIC if you didn't pay taxes. It might reduce the amount of EIC that you get depending on your actual tax liability. But if you have no tax liability - you should get every dime back. The only reason you wouldn't get anything back would be if you owed as much in tax as your EIC is. The odds of this - very very very unlikely.
2007-01-29 04:01:16 · answer #3 · answered by Simplekindoflife 2 · 0⤊ 1⤋
whether you do no longer owe tax, you're able to desire to document. it quite is the regulation. document and coach which you do no longer owe something. additionally, you're able to desire to document to get the tax rebate this year! in case you utilize Federal Turbotax it comes with a loose state. otherwise, only seek on line for the state tax type and fill it out by using hand for loose! i'm assuming that's not too complicated in case you do no longer owe something.
2016-11-28 02:56:49 · answer #4 · answered by ? 4 · 0⤊ 0⤋
No, that's not true. To test your specific situation, go to this link and complete the questionnaire.
http://apps.irs.gov/app/eitc2006/ShowEligibilityTips.do
Click on the link entited: Start Here: Am I Eligible?
2007-01-29 04:05:40 · answer #5 · answered by Luvly 3 · 0⤊ 0⤋