What is my Earned Income Credit?
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I think your a bit late in filing.\n\nAt any rate The Earned Income Tax Credit (EITC) sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.\n\nTo qualify, taxpayers must meet certain requirements and file a tax return, even if they did not earn enough money to be obligated to file a tax return.\n\nThe EITC has no effect on certain welfare benefits. In most cases, EITC payments will not be used to determine eligibility for Medicaid, Supplemental Security Income (SSI), food stamps, low-income housing or most Temporary Assistance for Needy Families (TANF) payments.\n\nMore info here: http://www.irs.gov/individuals/article/0,,id=96406,00.html
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It changed in April 2004.\n\nIncome Support is an income-related benefit for people aged from 16 years up to age 60 that are on a low income. The amount of Income Support due may be effected by other income to the household. \nSavings over £16,000 usually mean you cannot get Income Support.  \nIf you have to attend your Jobcentre Plus office regularly, you cannot get Income Support.\nCan I get it?\nAre you:\n\nIn Great Britain \nAged between 16 and 59? \nOn a low income? \nNot working or working on average less than 16 hours a week?\nIf YES to all, claim Income Support.\n\nOver 60?\nIf you or your partner are aged 60 or over you may be entitled to Pension Credit. \nPension Credit provides a contribution to a guaranteed minimum income and rewards people aged 65 and over who have made modest provision for their retirement. \nPension Credit is dealt with by The Pension Service. To find out more about Pension Credit visit The Pension Service Website.\nWhat else should I know?\nYou will not have to attend the Jobcentre Plus office for regular Jobsearch Reviews if you are a lone parent, sick or disabled, unable to work because you are caring for someone, or registered blind.\n\nIf you are responsible for at least one child or young person, you may be able to get Child Tax Credit (CTC). For more information go to the HM Revenue & Customs (HMRC) website. Families already on Income Support in April 2004 who have not already claimed CTC will be moved across to CTC. CTC is paid into the Income Support customer's account on migration. If you want to have it paid to the main carer, you must contact the HMRC to get it changed.\n\nIf you are a lone parent, you will usually have to attend a Work Focussed Interview with a Personal Adviser before you can get Income Support\n\nIf you are not a lone parent, and you live in an area with a fully converted Jobcentre Plus office or certain other designated offices, you will usually have to attend a Work Focussed Interview with a Personal Advisor before you can get Income Support\n\nIf you have to regularly attend your Jobcentre Plus office, you may be able to get Jobseeker's Allowance (JSA)\n\nIf you have a partner who works an average of 24 hours a week or more you cannot usually get Income Support\n\nIf you have a partner who works an average of less than 24 hours a week, their earnings will usually affect the amount of Income Support you can get.\n\nPregnant women and people with children aged under five get free milk and vitamins, usually via the Department of Health.\n\nSavings over £6,000 usually affect how much Income Support you can get.\n\nYou may be able to get extra money to help towards certain housing costs.\n\nYou can usually get extra money for your family if you have claimed before 06/04/04.  After this date if you have children you want to claim for you will need to claim Child Tax Credit.\n\nYou may be able to get Income Support if you or your partner are not working because of parental leave.\n\nYou may be able to get Income Support if you are on paternity leave.\n\nIf you have a partner where benefit is still in payment after 26 weeks of the claim, they will be required to attend a Work Focussed Interview with a Personal Advisor\n\nIf you are sick and not getting Statutory Sick Pay (SSP) you should claim Incapacity Benefit as well as Income Support.\n\nIf you get SSP you do not have to claim Incapacity Benefit as well as Income Support.\n\nCheck with your Jobcentre Plus office to see if you are on a low income for Income Support or Pension Credit.\n\nSeverely disabled people who get the highest rate of Disability Living Allowance for care will usually be able to get more Income Support. This is part of the new Disability Income Guarantee.\n\nIf you have recently come from abroad there are some extra rules.\n\nStudying\nIf you are studying, you may be able to get Income Support while you are on your course if you are a lone parent, sick or disabled, or registered blind. C
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Its the Tax Deducted at source or TDS certificate issued by the deductor which could be the employer. More details at \n\nwww.incometaxindia.gov.in
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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.
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it depends on your circumstances \n\nhow much do you earn, how old are your children etc, does your partner work etc.\n\neven if you are not entitled to HB or CTB you should be entitled to child tax credits if you are not earning much.\n\ngo to your jobcentre and ask them, also try the CAB if you don't get anywhere. you can also visit Tax Credit online and see if you can find out there - there is Working Tax Credit as well so if you are on a low wage you should get some help\n\nhope this helps
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It is income that was earned in another country, but is taxed in the US.  It is taxed at a much lower rate 5.25%.
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When you pay a babysitter (who is not your spouse, parent of the child, dependent, or one of your children under 19) or a child care center to watch your dependent children who are under 13 because you work or are going to school or are looking for work, then the amount you pay may give you a credit on your tax return called a Child Tax Credit.  If you are married and your spouse doesn't work, then you won't get the credit.\n\nThe amount of credit depends on how many children, how much you paid, your tax liability, and your adjusted gross income.  You definitely don't "get all the money back", but you can get a substantial amount back.  It never hurts to apply for the credit.\n\nOne big thing you need is the name of the care provider, their SSN or EIN (if they are a business), and their address.  You can still file for the credit if they refuse to give you their SSN, but it is much easier if you get their SSN.  Why do you need all of this?  Whatever you tell the IRS you paid the babysitter, the babysitter will have to claim as income on their return.  If their numbers they report to the IRS are different than what you report, the IRS will send out letters asking for the correct number.  It is for this reason that many of my clients refuse to report the payments.  That is unfortunately because regardless if you tell the IRS you paid someone for daycare, it is the responsibility for the baby sitter to claim the income.  Not doing so is fraud.  Tax avoidance on your "first job" is not a good way to start a life.  Besides, depending on other factors in the babysitter's life, their tax burden may be very low.  The income, in some cases, may actually qualify them for so much tax credit that they not only end up not owing the IRS any money, they get money back from the IRS.  Why?  If they have children of their own, the Earned Income Credit can more than offset SE taxes and income taxes.\n\nBottom line is, go ahead and claim the credit.  Make sure your baby sitter knows what you are doing and make sure they know that they may need to claim that income on their own return.  They may not have to file if the amount is small, but that is their concern, not your.\n\nGood luck!
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Try this online calculator may help!!\n\n\nhttp://www.bfinancialtools.co.uk/working-family-tax-credit-calculator.php
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Steve F's answer is dead on for 2006.  For 2005, the $5,000 standard deduction is added to one exemption $3,200 or two exemptions $6,400 to get the total deduction.\n\nThe total deduction for one exemption is $8,200 ($5,000+$3,200)and for two it is $11,400.\n\nTotal taxable income is $1,800 ($10,000-$8,200) for one and $0 for two.\n\nTotal tax is $180 (10% of $1,800) for one and $0 for two.\n\nSo, in 2005, your tax savings for claiming a dependent is $180.  For 2006, your tax savings for claiming a dependent is $155.  Something, but not much.  If the dependent is your qualifying child, you may get to claim the Earned Income Credit and/or Child Tax Credit to increase your refund, but that is a totally different topic.
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The lender asks for your W2s and tax info to verify that you have a stable income history and no outstanding debt to the federal government.  You would be a poor risk for a loan if you were unable to prove you had enough income to pay your mortgage.
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You have to include the household income of the parent you're living on right now. You can also check which one of them have you as a direct dependant on their tax return. Not both of them can have you there and the government will also use that information as a decision point.
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The form is Form 1116, Foreign Tax Credit.  You appear to be saying that you were not able to use the full credit last year, probably because the Indian tax rate was higher than the  US rate.  Excess credits can be carried back one year and forward 10.  If you have the same kind of foreign income in a later year, then you should be able to carry the excess forward and use it to offset US tax in the later year.  This is a complex subject and you must be sure your accountant knows what he or she is doing.\n\nIf your husband claimed the sec. 911 foreign earned income exclusion, then the Indian taxes allocable to the income that he excluded cannot be credited or carried over.
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Please explain if you have earned income or not.\n visit the website of irs for complete list of excemptions.Also contact a Tax professional.
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Its hard to say without knowing how much income you earned.\nBut this might help:\nIf you made more than $31,000 you will not qualify for the earned income credit.\nIf you made $7,800 up to $14,400 you will get a maximum earned income credit of $2,662.\nIn addition there is the child tax credit, which reduces the taxes you owe by a maximum of $1,000. If you owe no tax, then you will have an additonal $1,000 refund.\n\nTo find out how much you will get back, you will have to see a tax professional.\nHope this helps.
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You probably have no tax liability, but you may qualify for Earned income tax credit whether or not you have children. \nBased on 2,000 income with no children that could be as much as $155! But you must file a return to get the credit.
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It depends on your taxable income
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You can make up to the $3200 of earned income.  The threshold is lower for unearned income.