The Federal Tax Credits Blog

Posts Tagged ‘tax’

President Obama Addresses Council of La Raza

Question: am i entitled to a working tax credit if im on a low income?

i live in the uk and have heard that if you and your partner both work full time but combined are on a low income you can get help, some kind of working tax credit. is this true and how much do you have to be earning? do you need to have children? i don’t think its the working family tax credit though but maybe something similar. thanks

Answer: Depends what you think is a low income , if you have children its a different matter altoghter but you may be entitled to working tax credits, again it depends what your combined income is .I would give them a ring and they will tell you there and then and if you are entitled you anything and send you the relevant forms.

George Galloway interviews Gavin Poole on welfare reform

Question: if i recieve unemployment can i file taxes on it and still get the child tax credit?

Answer: It is hard to tell what your question really is so I will take a few tries at it.

Filing taxes is not optional if you made enough money. If your unemployment and all other income combined is over the filing requirement you are required to file whether you get certain credits or not.

Everybody that files a return and has a child under 17 gets the child tax credit. The question is whether you will benefit from it. If unemployment is your only income, you probably will not benefit from it since you probably will not have any taxable income after your standard deduction and exemptions are subtracted from your unemployment.

If you mean the Earned Income Credit instead of the child tax credit, and unemployment is your only income, then you are out of luck. The “Earned Income” in “Earned Income Credit” means you have to work to earn the money so money you didn’t work to earn, like unemployment, doesn’t count. Still time to get out and earn some before the end of the year.

Economic Professor on Recession, Unemployment & Consumer Spending

Home Insulation