The Federal Tax Credits Blog

Posts Tagged ‘family tax credit forms’

Question: Does anyone know if every tax paying American will qualify for a rebate check.?

I know that the amount will vary, based on income and family size, but I was wondering if this all goes through will everyone get the check…even if they might owe money from a previous year.. My friend paid too little out and ended up owing money that she didn’t pay yet, she is under the impression that she will get this credit either in check form or as credit towards what she owed. I was curious if anyone knew about this?

Answer: No, every tax paying american will NOT get a rebate. And “don’t hold your breath” because no one may get anything. It is a ridiculous method at attempting to fix a problem with needs to correct itself through time. Just to make those with liberal attitudes “feel” good. It is not the answer. Besides, it’s not a gift – for those who work and pay taxes, it’s merely a return of some of the “extortion” that is perpetuated on the working american.

Realtors support sales tax

ROBERRTSDALE, Ala. — A high ranking school system is important to selling property in Baldwin County, said Nick Wilmott. Wilmott, the president of the Baldwin County Association of Realtors. That is why the Association is urging passage of the “Penny Tax,” a three-year one-cent increase in the sales tax March 23.

$6500 Tax Credit – Qualifying

Question: Questions about child tax credit/EIC and filing?

What is the difference between a child tax credit and an EIC? I read the qualifications for the EIC, and I do qualify, but what’s the child tax credit? Can I get that too?

I am a single mother, and I had a child last August of 2008. I’m filing through my state’s website (California) with CalFile for free. I worked for 6 months and earned about $9,000, and I received about $1,100 for Unemployment Compensation-Paid Family Leave.

I printed out the Earned Income Credit for Qualifying Child Information form. It says I have to figure out my earned income credit. How do I do that? And then it says to use Schedule EIC to give the IRS information about my qualifying child . . . How do I do this? How do I submit my forms for an EIC?

Sorry, I’m just really confused . . .
What about EIC? Is that the same thing as the child tax credit?

Answer: The EIC and child tax credit are two different credits (meaning refundable credits- not just a deduction from your income) the child tax credit (up to $1000 for each child under 17 as of December 31st) can be used to pay the tax that you owe…or can be taken as additional child tax credit…meaning you get the money back if you don’t owe or can be split between the two…say you owe $500, you can use $500 to pay the tax you owe and then get the other $500 back in the refund…..on the amount of income you have you won’t get much of the child tax credit, but EIC is where the majority of your refund will be coming from. That being said your EIC could be up to $2500…..you really need to go have someone prepare your taxes for you….someone who knows how to get these credits for you….it’s worth spending $150 if you can gain up to $2500…right? I would just hate to see you miss out on these important credits because you weren’t using good software or were just simply not willing to invest a little money to get a LOT of money back.

West Siders walk away with well-earned victory at Hudson Yards

After staring down the prospect of having a massive sports stadium built in their backyard just five years ago, the initial approval this week of a zoning plan to include affordable housing in the development of the Hudson Yards marked a hard-earned victory for West Siders.

Form 1116 FOREIGN TAX CREDIT – Expatriate Tax Preparation