question about tax refund I head about on the radio

[buffdaddy18]

on the radio the other day, I heard something about a tax refund for people who make under something like, 40k or 45k a year, and for more info to go to a certain extension of the irs's website. but now I can't remember what it was. anybody have any idea about this?

[HarietTubgrl]

that would be good to know. the only credit i know about is the eitc, but the requirement is to earn less than 13k...

[quickdodge®]

on the radio the other day, I heard something about a tax refund for people who make under something like, 40k or 45k a year, and for more info to go to a certain extension of the irs's website. but now I can't remember what it was. anybody have any idea about this?

You can get a tax credit if you meet a certain criteria, whether it be single making under a certain amount, married/HOH making under a certain, larger amount and so on. Later, QD.

[JennB]

I didn't hear this show so I can't be completely sure but they were likely talking about EIC, earned income credit. The limit for a single person is very low but it's easier to fall below the limit if you have kids. The income limit for someone with two or three children goes up above $40K per year.

$43,279 ($48,279 married filing jointly) with three or more qualifying children
$40,295 ($45,295 married filing jointly) with two qualifying children
$35,463 ($40,463 married filing jointly) with one qualifying child
$13,440 ($18,440 married filing jointly) with no qualifying children

The first number is for a single person and the one in parentheses is for married filers.

[B18c1Turboed]

I would shoot myself in the head if i made less then that...

[Total_Blender]

Theres some new credit this year called the "making work pay" thats like $400. Any of the E-filing programs or websites like turbotax etc should put it in for you automatically.

[JennB]

For most people, that tax credit was already paid to them by slightly larger paychecks in 2009. If your employer didn't already pass it on to you by using the new tax tables, you will receive it with your tax refund.

[91boostdgsr]

luckily i had my taxes doneon monday the 25th and the making work pay was began on april 1 of 2009 and the irs and obama admin gave this as part of the bailout program it reduced the amount of tax they tak out of your check and it supposed to be about 400 for all of 2009 it will only affect your filin this year i was bringin home an extra 20.00 everypay period 2x a month from apr1 til dec adds up to like 380 they took out cause i quit in dec i got an extra 71 back on refund and it dropped my effective tax bracket for 2009

[cartune]

this help?

If your earned income is less than $43,279, you may be able to save money by taking the Earned Income Credit (EIC).

The EIC could save you as much as $5,657 if you have qualifying children. The credit is designed to give you a bigger refund or reduce the tax you owe.

Here's a breakdown of the numbers:
Qualifying
Children Maximum
Income Maximum
Credit
0 kid $13,440max $457min
1 kid $35,463max $3,043min
2 kid $40,295max $5,028min
3 kid $43,279max $5,657min

-------------------------------------------------------------------------------------

Earned Income Credit
The Earned Income Credit (EIC) could save you as much as $5,657. The credit can reduce the amount of tax you owe, or even give you a refund.

To get the credit, you need to have at least one qualifying child or you need to have losses that you haven't entered yet. The child doesn't have to be your dependent to qualify, but does need to meet these guidelines:


- Was your son, daughter, stepchild, foster child, grandchild, brother, sister, half brother, half sister, stepbrother, stepsister, niece, or nephew
- Lived with you (in the United States) for more than half the year

- Was age 18 or younger at the end of 2009; a full-time student under age 24 at the end of 2009; the child must be younger than you or permanently and totally disabled at any time during the year, regardless of age

[JennB]

I think we've already established that. lol