Author Topic: Tax Credits (Read 1786 times)

Tiffany · « **Reply #5 on:** February 25, 2013, 02:46:09 AM »

Quote from: Guest

So, it sounds like you can depend on getting everything withheld from your paychecks back, through the credits and maybe a little extra. It sure seems hard to find clear and easy to understand tables on the earned income tax credit though.

Yes and sometimes a lot extra. It might be 30% or 40% of their yearly income.

I'm too tired to look it up now but for filing jointly and 3 kids between 13-22K they get the maximum earned income credit amount. Above and below those numbers it goes down.

This is why h&r block is full of young families with beaters the first week in Feb. April you find he people with nicer cars. Nobody is chomping at the bit to pay before they need to and those getting thousands back in a refundable credit want to file asap.

There should be a table in the tax booklet at the library or a pdf on the irs.gov site.

MaterDominici · « **Reply #6 on:** February 25, 2013, 01:48:16 PM »

Quote from: Tiffany

This is why h&r block is full of young families with beaters the first week in Feb.

"beaters"?? Is it safe to assume that is a car given the example in the next sentence?

I'd have had ours filed in January, but am still waiting on forms to be released for e-file thanks to the government's last-minute decision-making. It's all supposed to be ready by Friday, so we'll see.

Änσnymσus · « **Reply #7 on:** February 25, 2013, 07:54:06 PM »

Yes, "beaters". Maybe it's a northern expression?

We called all our old cars "beaters". Growing up, that's all we had in our family! We went from one $500 car to the next -- all from the 1970's. They were huge, gas-guzzling, no A/C, sometimes no heat. They were heavy and made of solid steel. This was back in the 1980's, when gas was under a dollar a gallon.

Änσnymσus · « **Reply #8 on:** February 26, 2013, 01:28:51 PM »

Here's an earned income tax credit calculator for 2012.

Änσnymσus · « **Reply #9 on:** February 26, 2013, 03:00:22 PM »

Quote from: Guest

Here's an earned income tax credit calculator for 2012.

http://www.cbpp.org/eic2011/calculator/

Author Topic: Tax Credits (Read 1786 times)

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