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Is the economic stimulus and earned income credit the same thing?
Wiki User
∙ 14y ago
No they are different.
Wiki User
∙ 14y ago
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Can i receive the earned income tax credit if i was self employed and have not yet paid taxes?
Self-employment income does qualify as earned income for the credit. If you have children, the EIC is often more than the self-employent tax you owe. This year, it can also qualify you for the Stimulus money.
You haven't worked in 2 yrs and you have 2 qualifying children Can you file taxes and get earned income credit?
IF you did NOT have any qualified EARNED income pay wages. self employment, etc that you worked for (EARNED INCOME) then you would NOT be qualified for any of the EITC amount. Did you qualify for and file a 2007 1040 federal income tax return for the tax year 2007 in the year 2008 and receive the economic stimulus payment in the year 2008 IF you qualified for it???? If you were qualified for and did NOT file the 2007 1040 income tax return you have until April 18, 2011 to file the 2007 1040 income tax return before the economic stimulus payment will no longer be available to you. To check and see if you qualify go to the IRS gov website to look at the requirements for this purpose use the search box for Economic Stimulus Payment Q and A Eligibility
You only received unemployment for 2009 will you be eligible for earned income credit?
Unemployment benefits are not "earned income", so you should not be eligible for earned income credit.
Who is eligible for the earned income tax credit?
If you had miscellaneous income from working for an individual and received a 1099misc form would this income qualify for the earned income credit??
What is the minimum income requirement to be eligible for a stimulus check?
Anyone making less than $3,000.00 in 2007 is not eligible for a stimulus check. Also, the economic stimulus law allows Social Security recipients and recipients of certain veterans' benefits and Railroad Retirement benefits to count those benefits towards the qualifying income requirement of $3,000. Supplemental Security Income (SSI) does not count as qualifying income for the stimulus payment.
Is fees earned debit or credit?
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
Is earned income credit a refundable credit?
Yes it is.
Can you receive tax refund if you have no income?
no you may not If you have no earned income, you would not qualify for the earned income credit.
Can I file taxes for myself and my daughter even if i didn't work in 2007 but I received money to support us I am a full time college student and a single parent?
What would you put on the return? And what would you expect to happen? The Earned Income Credit requires that you have earned income. There is no scenario under which you would get a refund, nor do you qualify for the Economic Stimulus Payment -- unless you are receiving Social Security payments. If you are receiving Social Security payments, you should file solely to get the Economic Stimulus payment. Use Form 1040-A and show the payments as pension income. You do not need to put any other numbers on the form.
Is earned income tax credit an itemized deduction?
No. The earned income tax credit is a credit received by some based on their income and lawful dependent children. It is not a deduction of any kind.
Can you get earned income back if you are on workerscomp?
NO workers compensation for an on the job injury is not qualified taxable earned income for the earned income credit.
Do you claim as income a stimulus check?
In 2009 it was shown as a credit instead of as income.
