What is Earned Income Credit and how does it work?

[SunnyD]

As per topic - I am a very , very, very low income family, and someone said I should look into it.

 

[rival]

its like, less taxes for po' people

 

[AlienCraft]

It is tax assistance for Low Income People with children

 

[GTaudiophile]

Earned income = income from where you actually worked, like a job...not from interest or dividends and such.

 

[amdforever2]

tax welfare

you make less than 11K per year and you're 25-35 years old and have no children you get a credit

income requirement gets higher if you have kids

 

[Turin39789]

Originally posted by: AlienCraft
It is tax assistance for Low Income People with children

I was looking at the irs site and i think you can get it without kids, you have to make like 11,500 or less. Damnit I made 12,500

 

[Ziptar]

Bad thing about it is IRS can single you out at random and disallow other deductions for no reason.... Even if they are valid.

 

[bbkat]

^ to group janet locks

 

[KK]

Originally posted by: amdforever2
tax welfare

you make less than 11K per year and you're 25-35 years old and have no children you get a credit

income requirement gets higher if you have kids

Exactly, its for the irresponsible parents that have no business having kids.

KK

 

[Saulbadguy]

Originally posted by: bbkat
^ to group janet locks

STOP BUMPING OLD THREADS.