The earned income credit is money given to people who work but make low wages. If they have children, the income limits and amounts of the credit are much higher.This money is in addition to whatever they might have paid in for taxes. It can be as high as a little over $4500, or as low as $1. The amount depends on earned income amount, filing status, and number of children (zero, one, or two or more - don't get any additional EIC for more than 2 kids).
The money comes from the government, which means it comes from the taxpayers.
The purpose of this is to encourage people to work.
2007-02-09 12:15:18
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answer #1
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answered by Judy 7
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The beginning of your question was your answer, depending on how much the person made, the Earned Income Credit goes up to something like 4,536 somewhere up in there, so say they made like 10,11,012, or 13 thousand for the year most likely they don't owe no taxes and even if they did the child credit would probably take it out, so if they had 1500 taken out in Federal withholding they'd get all that back + maybe 3 thousand or more for say two kids, + maybe even an extra child tax credit, so like I said the beginning of your question is your answer.
2007-02-09 20:17:25
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answer #2
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answered by yahoo 3
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she is probable getting back all of the taxes she paid because she did not make enough to owe. plus she worked, and is eligible for the EIC, which you get even if you only made one 1 dollar from working. she probable has at least two kids, which means uncle sam giving her the maximum about she can get, which is around 2 grand, plus she may be getting other smaller credits, including child care and dependent ones.
2007-02-09 20:28:29
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answer #3
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answered by Jen 5
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Jen is partially correct. You can get EIC if you only make one dollar in income but not the full amount. With 2 children the max amount does not start till you make approx 11,000 and it starts to decrease when you reach approx 16,000.
2007-02-10 16:31:24
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answer #4
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answered by taxlady1975 2
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You know Melissa, I don't know how she is doing that but I would like to also know how but, only if it is legal. Nothing is worth anything if it isn't legal.
2007-02-09 20:13:29
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answer #5
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answered by bluebonnet240 1
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