Some hope for 2009
Most people do not know that the government has a income tax credit for those that qualified. In 2008, the average federal credit was nearly $2,000. Most eligible taxpayers that have lost their jobs or their employer cut your hours, don't know that they may now qualify.
Failure to claim the earned income credit may cause you to leave much needed money unclaimed. The beauty behind the earned income tax credit, you don't have to have any tax liability to be offset to get a refund.
To qualify, you must under age 65, have worked a job, have two or more dependant children, adjusted gross income must be less that $38,646 for single, $41,646 when married filing jointly, and $12,880 for single no children and jointly $15,880.
So whether you have children or not, it's good to apply for the credit just in case you fall below the new guidlines for adjusted gross income.
Failure to claim the earned income credit may cause you to leave much needed money unclaimed. The beauty behind the earned income tax credit, you don't have to have any tax liability to be offset to get a refund.
To qualify, you must under age 65, have worked a job, have two or more dependant children, adjusted gross income must be less that $38,646 for single, $41,646 when married filing jointly, and $12,880 for single no children and jointly $15,880.
So whether you have children or not, it's good to apply for the credit just in case you fall below the new guidlines for adjusted gross income.
posted by michael at
8:34 AM
