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Advanced means move forward. If you qualify for the EITC it is possible to a part of the amount in each pay check during the year and when you do this the amount that you receive in advance will mean that when you file your 1040 federal income tax return in the next year your REFUND amount will be reduced by the advanced payment amount that you received during the the tax year.
What else can I help you with?
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??
Is fees earned debit or credit?
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
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.
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.
How do i apply for earned income credit if I am self employed?
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.
Can self employed people get advanced earned income credit?
Yes all self employed people can.
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 difference between the child tax credit and the earned income credit?
The child tax credit is a tax benefit for parents with dependent children, providing a credit for each child. The earned income credit is a tax benefit for low to moderate-income individuals and families who have earned income from work. The main difference is that the child tax credit is based on the number of children, while the earned income credit is based on income and family size.
Is earned income credit a refundable credit?
Yes it is.
Is fees earned debit or credit?
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
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.
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.
Is earned income credit a nonrefundable credit?
EIC is a refundable credit.
Where can one find an earned income credit table?
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.
How do i apply for earned income credit if I am self employed?
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.
