is it true that you can get back a little extra on your tax returns if you are over the age of 25 and still single???
P.S. I heard this rumor at work and was wondering if it was for real.
2007-02-01 20:33:38 · 4 answers · asked by stevelonelyguy74 2 in Business & Finance ➔ Taxes ➔ United States
If you are single and over 25 and make a VERY low wage (less than $12,120) you may qualify for the Earned Income Tax Credit. The maximum EITC for a single over-25 filer is $412 with earned income between $5,350 and $6,750 for 2006.
2007-02-01 23:12:51 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If you are between the ages of 25 and 64, have no children, and are very low income, you may be eligible for the earned income credit. The maximum childless credit is $428 for 2007.
2007-02-02 04:39:01 · answer #2 · answered by dragonwych 5 · 0⤊ 0⤋
You will probably save on auto insurance but taxes don't go by age, only income. The only age discrimination built into the tax code is if you are under age 19.
You can qualify for the earned income credit if you meet the requirements of the law but you can be under age 25 for that.
2007-02-02 06:48:35 · answer #3 · answered by waggy_33 6 · 0⤊ 3⤋
if youre over 25 without children, you are eligible for the EIC only if you have income of less than $12,120
2007-02-02 07:13:50 · answer #4 · answered by tma 6 · 0⤊ 0⤋