Yes. You will know the amount after you complete your 2009 income tax return.
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Nearly 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations performing vital tax preparation services for low-income and elderly taxpayers.
The IRS Volunteer Income Tax Assistance (VITA) Program offers free tax help to people who earn less than $49,000. The Tax Counseling for the Elderly (TCE) Program offers free tax help to taxpayers who are 60 and older.
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Unemployment compensation is income taxable. Whether you have to pay it depends on the amount you receive, deductibles, dependents, etc.
Can yoy dile taxes when your ibcome is Unemployment
No, you are not entitled to claim the earned income credit on unemployment. You must have earned income. Unemploymnet is considered unearned income
pie?
Self-employment income is earned income. If you meet all the requirements of the requirements for the earned income credit, you would claim it on your tax return. For more information, go to irs.gov website and type this in the search box: "Do I qualify for earned income credit." This will give you information about all the qualifications.
The IRS government site has an earned income tax credit table. Also, Turbo Tax has a good earned income credit table. Turbo Tax will ask questions that will help one determine if they qualify for a credit. Then, one can use their income credit table to see how much credit they can claim.
No. You must report income to receive the Earned Income Credit. You must file a tax return to receive the credit, even if you otherwise would not have to. Any amount of the credit over the amount of taxes you owe will be refunded to you.
i think you can
No
Yes... for the earned income credit and such. It makes no difference for your income taxes really, as your not paying any.
If you have earned income you claim as many as you have for an exemption however for the EIC credit you can only claim 3
Unless you paid federal and state taxes you cannot get a refund. Many people make the mistake of thinking they can file taxes simply to get the earned income credit. They are wrong. It is called the earned income credit because they earned an income. So unless you worked at some point over the prior year you cannot get the earned income credit. And unless you paid taxes in then you have nothing to file or claim.
You can claim as many dependants you can prove that you did support. However you can only claim the EIC(Earned Income Credit) on up to 3 qualify children.
The Child Tax Credit is $1,000 for each of your dependent children that you are claiming that are 16 or younger. It doesn't have anything to do with gross income. This credit is nonrefundable, so it can only reduce your tax to zero. If your tax is less than this credit (see worksheet in IRS instructions), you will only claim enough of the credit to reduce your tax to zero & you may qualify for the Additional Child Tax Credit. The Additional Child Tax Credit is refundable (you can get money back if it's more than your taxes). It can be affected by your income. If the Child Tax Credit worksheet directs you to this credit, use IRS Form 8812 & instructions to see how much to claim. The total claimed on the line for Child Tax Credit & Additional Child Tax Credit cannot be more than $1,000 for each dependent child age 16 or younger. Yes, unemployment is part of gross income. However, it is not earned income.
Sure. The fact that you were incarcerated does not exempt you from filing income taxes and paying tax on your income. It does prevent you from claiming many of the tax credits such as Earned Income Credit, Child Tax Credit as you cannot claim that you supported your children or that they lived with you during this time.
Two people can not claim the same child. It's as simple as that. If the judge ordered that he get to claim the child for that certain year. Then he gets to claim him for whatever deductions apply to him.