What is the Earned Income Credit?
153246
It is a kind of "reverse tax" for people that make under $35K and have kids.  It can be for people without kids, but you have to be very poor.  There are many restrictions, and it is not all people, so be careful not to wrongfully claim it, as it is the largest source of tax fraud and the IRS does seek and prosecute violaters.
464473
They probably check your credit to make sure that you're not late all the time or something similar.  Your annual income is probably one of the biggest factors assuming that you don't have a spotty credit history.
160562
Income tax is, well, tax on income.  ANY income. \n\nPayments received from Social Security are considered income.  Therefore it is taxed as part of your total income when filing at the time of receipt.
181985
I would...You will probably get earned income credit which will benefit you more than not filing them.
1143979
They provide cheap labor for the employers, but the regular folk have to pay the difference every day.\n\nSassy, they can get EIC for much more than $3200. It's over $4,800 they can get. Plus they can get additional child tax credit.
645358
it is considered the childs income
13818
I believe you can just apply for a loan and go "stated income"  Some loan programs actually do not even require stated income verification.  Of course as a result you will probably pay a few more points on the loan.  If you are in california I can probably give you more information, in other states,  you will need to look in your areas for the programs available there.
270176
You need to file.  You can get the earned income credit for the children, every little bit helps.
12376
http://www.thestreet.com/funds/taxforum/955718.html\n\nFor IRS (federal tax, not state) \n\nYou should file if you fit into any of the following categories.\n\nUnearned income, like interest and dividends, exceeds $700 annually; or \n\nEarned income, like wages and tips, is over $4,400 a year; or \n\nThe total of unearned and earned income is greater than the larger of (a) $700, or (b) earned income (up to $4,150) plus $250.
49164
Yes.  Income is income.  In fact, it might even be Schedule C personal business income which might be taxed at a higher rate.\n\nConsult your accountant or certified tax advisor.\n\nDon't forget to take along that jar of dimes you collected.  You'll need it to pay for the professional advice.
630204
you have to report it as unearned income, then it is taxed accordingly
422786
"On Target Earnings"\n\nIt means that this is not your salary, which you will receive regardless.\n\nIt is based on a "Target" performance (normally sales), and you are paid against that performance (normally a sales commission).\nSo if you sell nothing, your pay might be nothing.
803965
I'm amazed by some of the answers. You haven't had any income at all. What income are you going to report?? NO INCOME = NO TAX RETURN.
433928
Workers Comp is paid by your employer.  The income is usually taxable.
51339
No, it shouldn't be. It is a loan that you have to pay back (with interest). Income is taxable.
776922
Steven F: Your calculations are correct, but you are forgetting the child tax credit $1,000. \nSo, I'm calculating your tax would be $3,415 minus CTC $1,000 total tax $2,415.  Tax withheld $3,300; you would receive a refund of $885.\n\nYou need to consider if you itemize deductions.
160021
The income tax is imposed on all income regardless of source.  So, if the receipt would be taxable if it came from a US source, then it is also taxable if it comes from a foreign source (with certain exceptions; consult your tax advisor).  If a foreign income tax was imposed on or withheld from the amount you received, you may be entitled to a credit against US tax for all or part of the foreign tax you paid.