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Unfortunately, the same thing is happening to us. The tax software told us that our income was too high to claim the child tax credit. The sad thing is my husband has been unemployed for over 6 months and our income is still too high, therefore I think they should lower the income levels...
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∙ 13y ago
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How much do you have to earn in order to receive the child tax credit?
The credit reduces your taxable income by up to $1,000 per qualifying child, so your income must be at least as much as the amount of the credit you claim. Otherwise, there is no income for the credit to reduce. If you make less than the amount of the Child Tax Credit, you may still qualify for the Additional Child Tax Credit.
Can you receive a tax refund greater than what you have paid in?
There are several "refundable" tax credits that can result in a refund greater than what you paid in. The most common are the Additional Child Tax Credit and the Earned Income Credit (EIC). There are also more obscure credits such as the credit for repayments of previous years' taxable income.
What would be the differences of tax refund for a single parent with 1 child to a married couple with no children?
Big difference. If you have a child under the age of 16 you get a 1000.00 child tax credit. Depending on the income if you fall below the 25,000 income and have a child you will also get an earned income credit which you only get if you have a child living with you. Hope this helps.
I missed the child tax credit for 1998 and 1999 can I refile for this?
No. Any refund that you may have been due for the years 1998 and 1999 is no longer available to you.Time for Filing a Claim for RefundGenerally, you must file a claim for a credit or refund within 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later. If you do not file a claim within this period, you may no longer be entitled to a credit or a refund.
What is the amount of ashley's additional child tax credit in the payments section form 1040?
474
How much of a garnishment can be expected on a tax refund if you are behind in child support?
The amount will depend on how much child support you owe and how much refund you are getting. They can keep the entire refund if necessary.
Can child support take your child tax credit on return?
The State child support agency can intercept your tax refund, yes.
If EIC earned income credit is more than refund can student loans take your taxes Bankruptcy and other agencies cannot take your tax refund when eic is greater in amount than that of the refund?
Any federal or state agencies (including student loan and child support) have the right to take any amount due from your refund. It has nothing to do with EIC and they have the right to take the whole refund you are due if you are in default or have a judgment against you.
Is the child tax credit a refundable credit?
It can be. The Child Tax Credit is 2 parts. The first is non-refundable and can only reduce the tax to $0. If the full amount of the credit (generally $1000 a qualifying child) is not used, it becomes the Additional Child Tax Credit and the amount of refundable credit is calculated on Form 8812. The amount that can be refundable will depend on the wages and other income on the return.
Is a tax refund considered when determining the amount of child support in Illinois?
No. Child support is generally based upon the obligated parent's monthly income from wages and any other source. A tax refund is not always for the same amount nor always applicable and therefore could not be counted as an income source. A tax refund can be seized for child support arrearages.
What tax credit will reduce the amount of taxes you owe?
Child tax credit
How much do you have to earn in order to receive the child tax credit?
The credit reduces your taxable income by up to $1,000 per qualifying child, so your income must be at least as much as the amount of the credit you claim. Otherwise, there is no income for the credit to reduce. If you make less than the amount of the Child Tax Credit, you may still qualify for the Additional Child Tax Credit.
Will child support take all your tax refund even if you have children living full time with you?
If the amount of past-due support is at least equal to the tax refund, yes.
Can you receive a tax refund greater than what you have paid in?
There are several "refundable" tax credits that can result in a refund greater than what you paid in. The most common are the Additional Child Tax Credit and the Earned Income Credit (EIC). There are also more obscure credits such as the credit for repayments of previous years' taxable income.
For 2009 what was the maximum adoption credit amount per child?
$3,650
If your only income for the year is unemployment can you file taxes and still get a refund?
Anyone can file taxes.You can only get a refund if you overpaid taxes during the year or qualify for some refundable tax credit such as the Earned Income Credit or the Additional Child Tax Credit.The most likely reason you might get a refund would be if you had taxes withheld from your unemployment compensation.
Does the entire amount of child support arrearages have to be paid even if it takes all of your federal and state tax refund?
Yes.
