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Earned income tax credit???

Discussion in 'The Lounge' started by JimmyJuneau, Mar 10, 2003.

  1. JimmyJuneau

    JimmyJuneau 1/2 ton status

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    Does anyone know about this tax credit? Has anyone used it? How does it work?
     
  2. MudNurI

    MudNurI 1/2 ton status

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    I think your referring to the earned income credit- EIC..

    you have to meetin income guidelines- and also kids- to get much of anything....

    check out irs.gov- it has checklists to see if you qualify.

    if you do qualify- holy crap its a big credit in some cases

    plus- some states offer it as well- VT is a % of the federal

    Brandy
     
  3. JohnnyFresno

    JohnnyFresno 1/2 ton status

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    This is how it works.

    My wife made 11,380 dollars in 2002 Has 1 child and paid in 450 dollars on Federal taxes and got back 3000 dollars.

    If you have 1 or more kids you get back alot of cash.
     
  4. JimmyJuneau

    JimmyJuneau 1/2 ton status

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    and if you dont have any kids?
     
  5. Ddragggon

    Ddragggon 1/2 ton status

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    [ QUOTE ]
    and if you dont have any kids?

    [/ QUOTE ][​IMG][​IMG]
     
  6. JohnnyFresno

    JohnnyFresno 1/2 ton status

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    I'm not exactly sure the qualifications for it, but I think if you don't have any kids you wont get nearly as much back.

    You should give HR Block a call and ask them about it.
     
  7. Donna

    Donna 1/2 ton status

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    There are requirements for this for unmarried people with no children. I really don't remember what the income guidelines are though. It is definately worth checking into. In most cases, it gets you back a decent refund over what you would have normally received.
     
  8. Leadfoot

    Leadfoot 1/2 ton status Premium Member

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    /forums/images/graemlins/rotfl.gif
     

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