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how much more will i get? will the irs figure that out for me?

2007-04-17 13:50:55 · 2 answers · asked by cindy 1 in Business & Finance Taxes United States

2 answers

At $1,361.00, the EIC is $468 with a child. That's all you qualify for.

2007-04-17 14:05:44 · answer #1 · answered by Bostonian In MO 7 · 0 0

That IS the more. Without a qualifying child it would be $105.

EIC was established to encourage low-income people to work, not just to hand out money. If you don't work much, you don't get much from it. If you made $1361 for the year, even if you're working at minimum wage that's 264 hours a year or about 5 hours a week, well below a standard workweek - if you got paid more than minimum wage, then the work hours would be even less.

I'm not trying to be harsh here - I understand the realities of working when you have a child. But the EIC isn't public assistance, it's a subsidy to low income people who have jobs. At 5 or fewer hours average per week for the year, you can't exactly be considered to have a steady job.

2007-04-17 22:07:12 · answer #2 · answered by Judy 7 · 0 0

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