My husband and I just discovered the Advance EIC.
We do qualify, and realize that it is about $1712 paid out over the year you apply.
My question is this.
Being we filed so late in the year, will we get what we *could* have been getting over this year in a lump sum and then the rest will divided up as normal...OR...will they just start paying us as if we started in January of this year and we lose out on getting the whole $1712?
Thanks!
2007-09-17
16:02:00
·
2 answers
·
asked by
Anonymous
in
Business & Finance
➔ Taxes
➔ United States
Yeah, real funny Justin.
Don't assume EITC is welfare...we make decent money, but adopted 2 children, so now we qualify.
2007-09-17
16:24:06 ·
update #1
Thanks Judy,
I guess I should clarify my question.
I know we're only entitled to a portion of the EIC that we will get at tax time, paid in installments throughout the year.
However, we applied just last week for this...so, will we get from January 07 to September 07 in a lump sum and then the rest of the $1712 of eligible advance paid out monthly, OR, will it just start up on his next paycheck as an X amount of credit, and we don't see the extra we could have claimed from the start of the year before we knew about it?
2007-09-17
17:50:08 ·
update #2