2007-01-31 13:28:10 · 3 answers · asked by Margie T 1 in Business & Finance ➔ Taxes ➔ United States
Not exactly. It sounds like you're thinking of EIC, a credit that can be worth up to just over 4700 this year. The wording confuses alot of people though, you can only get the max amount with a certain amount of income and two children being claimed on your tax return.
Here is the publication in PDF format, scroll down to page 48 or so and there should be a table that will help you figure out the amount you can get! If you have no children, you need to be 25 or older to qualify. Good luck!
http://www.irs.gov/pub/irs-pdf/p596.pdf
2007-01-31 18:14:42 · answer #1 · answered by Treyot 2 · 0⤊ 0⤋
You may qualify for the Earned Income Credit if, In 2006 you had 2 children who lived with you, and the amount on Form 1040, line 38 is less than $36,348 ($38,348 if married filing jointly) Also, this year you can get a standard credit up to $60 for having a telephone in which you paid long distance on, and also on improvements to your residence that are considered energy savings.
2007-02-08 14:15:14 · answer #2 · answered by magpie 2 · 0⤊ 0⤋
No.
You might be thinking of the Earned Income Credit but at $37k it would be rather small.
2007-01-31 22:14:00 · answer #3 · answered by Wayne Z 7 · 0⤊ 0⤋