Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Tax Question WTF

Posted by   + Show Post

People were in my shop today, and told me when you file, and have a kid, you get $1000, and get it back or credited to you (if you owe).  WTF is that?!  I've never heard of this.  I have an accountant, I can barely add, but is this true??  I claimed DS last year, and got fuck all.  I don't know how I file, what I paid, or anything else (bare minimum haha).

by on Mar. 7, 2013 at 8:56 PM
Replies (71-75):
coug7099
by Less Shitty on Mar. 9, 2013 at 1:46 PM


Quoting Djinn83:

It looks like they changed it. But an easy work around. Claim income from self employment, like mowing lawns etc. boom, child tax credit. It's only 3k minimum. When bush first added the child tax credit, it did not have income rules.

Is the Child Tax Credit Like the Earned Income Tax Credit (EITC)?

The Child Tax Credit is not the same as the Earned Income Tax Credit (EITC). The Child Tax Credit and EITC have different rules.

Many people who do not qualify for the EITC, qualify for the Child Tax Credit. Some people will qualify for both the Child Tax Credit and the EITC.

A married couple with two children will qualify for the EITC if their combined incomes are below $46,044. A married couple with two children will qualify for the full Child Tax Credit if their combined incomes are less than $110,000!

Unlike the EITC, you can:

  1. Get more Child Tax Credit if you have more than two children;
  2. Claim the Child Tax Credit and file as “married filing separately”;
  3. Claim the Child Tax Credit with an Individual Taxpayer Identification Number (ITIN).

Who Can Get the Child Tax Credit?

To get the Child Tax Credit, your child must be:

  • Your son, daughter, stepson, stepdaughter, adopted child, grandchild or eligible foster child.
  • Under age 17 at the end of 2011. Your child must be 16 years old or younger on December 31, 2011.
  • Your dependent. Your child must qualify as a dependent and be listed on your tax return as a dependent.
  • A citizen or United States (U.S.) resident. You can be a U.S. resident even if you do not have permission to live and work in the U.S.
**You must also earn more than $3,000 per year to qualify for the Child Tax Credit.


How Much Child Tax Credit Can I Get?

The amount of your Child Tax Credit depends on the number of children that you have. You can get up to $1,000 per qualifying child.


So that totally shoots the shit out of that person's claim that her non-working friend got $8000

Or does it? That doesn't say you need $3000 in EARNED income. Or does the word EARN in there mean you must EARN it? It confuses me when it gets down to the specifics. Either way for 3 kids the max would be $3000, not $8000.

Djinn83
by lainey's idol on Mar. 9, 2013 at 1:58 PM

 They could be claiming self employment, just enough to qualify for EIC and child tax credit. Its fairly easy to swindle the IRS. I could not work, collect disability, and claim to sell sewing projects, and earn 11k a year, without proof. I would just fill out a self employment form.

Quoting coug7099:


Quoting Djinn83:

It looks like they changed it. But an easy work around. Claim income from self employment, like mowing lawns etc. boom, child tax credit. It's only 3k minimum. When bush first added the child tax credit, it did not have income rules.

 

Is the Child Tax Credit Like the Earned Income Tax Credit (EITC)?

The Child Tax Credit is not the same as the Earned Income Tax Credit (EITC). The Child Tax Credit and EITC have different rules.

Many people who do not qualify for the EITC, qualify for the Child Tax Credit. Some people will qualify for both the Child Tax Credit and the EITC.

A married couple with two children will qualify for the EITC if their combined incomes are below $46,044. A married couple with two children will qualify for the full Child Tax Credit if their combined incomes are less than $110,000!

Unlike the EITC, you can:

  1. Get more Child Tax Credit if you have more than two children;
  2. Claim the Child Tax Credit and file as “married filing separately”;
  3. Claim the Child Tax Credit with an Individual Taxpayer Identification Number (ITIN).

Who Can Get the Child Tax Credit?

To get the Child Tax Credit, your child must be:

  • Your son, daughter, stepson, stepdaughter, adopted child, grandchild or eligible foster child.
  • Under age 17 at the end of 2011. Your child must be 16 years old or younger on December 31, 2011.
  • Your dependent. Your child must qualify as a dependent and be listed on your tax return as a dependent.
  • A citizen or United States (U.S.) resident. You can be a U.S. resident even if you do not have permission to live and work in the U.S.
**You must also earn more than $3,000 per year to qualify for the Child Tax Credit.


How Much Child Tax Credit Can I Get?

The amount of your Child Tax Credit depends on the number of children that you have. You can get up to $1,000 per qualifying child.


So that totally shoots the shit out of that person's claim that her non-working friend got $8000

Or does it? That doesn't say you need $3000 in EARNED income. Or does the word EARN in there mean you must EARN it? It confuses me when it gets down to the specifics. Either way for 3 kids the max would be $3000, not $8000.

 

Exile Island. A fun place with colorful people. Join our fitness forum and participate in our fitness competition.

coug7099
by Less Shitty on Mar. 9, 2013 at 2:01 PM

How sad

IF I ever tried it I'd get caught for not reporting that fake self employment as income to the welfare dept.

Quoting Djinn83:

 They could be claiming self employment, just enough to qualify for EIC and child tax credit. Its fairly easy to swindle the IRS. I could not work, collect disability, and claim to sell sewing projects, and earn 11k a year, without proof. I would just fill out a self employment form.

Quoting coug7099:


Quoting Djinn83:

It looks like they changed it. But an easy work around. Claim income from self employment, like mowing lawns etc. boom, child tax credit. It's only 3k minimum. When bush first added the child tax credit, it did not have income rules.


Is the Child Tax Credit Like the Earned Income Tax Credit (EITC)?

The Child Tax Credit is not the same as the Earned Income Tax Credit (EITC). The Child Tax Credit and EITC have different rules.

Many people who do not qualify for the EITC, qualify for the Child Tax Credit. Some people will qualify for both the Child Tax Credit and the EITC.

A married couple with two children will qualify for the EITC if their combined incomes are below $46,044. A married couple with two children will qualify for the full Child Tax Credit if their combined incomes are less than $110,000!

Unlike the EITC, you can:

  1. Get more Child Tax Credit if you have more than two children;
  2. Claim the Child Tax Credit and file as “married filing separately”;
  3. Claim the Child Tax Credit with an Individual Taxpayer Identification Number (ITIN).

Who Can Get the Child Tax Credit?

To get the Child Tax Credit, your child must be:

  • Your son, daughter, stepson, stepdaughter, adopted child, grandchild or eligible foster child.
  • Under age 17 at the end of 2011. Your child must be 16 years old or younger on December 31, 2011.
  • Your dependent. Your child must qualify as a dependent and be listed on your tax return as a dependent.
  • A citizen or United States (U.S.) resident. You can be a U.S. resident even if you do not have permission to live and work in the U.S.
**You must also earn more than $3,000 per year to qualify for the Child Tax Credit.


How Much Child Tax Credit Can I Get?

The amount of your Child Tax Credit depends on the number of children that you have. You can get up to $1,000 per qualifying child.


So that totally shoots the shit out of that person's claim that her non-working friend got $8000

Or does it? That doesn't say you need $3000 in EARNED income. Or does the word EARN in there mean you must EARN it? It confuses me when it gets down to the specifics. Either way for 3 kids the max would be $3000, not $8000.

 


Djinn83
by lainey's idol on Mar. 9, 2013 at 2:05 PM
1 mom liked this

 The majority of IRS fraud resources goes to those people who try to reduce their taxes, (not paying enough) than those who swindle the IRS out of money. Poor people rarely get audited, its rich people who get audited for bad tax write offs.

Quoting coug7099:

How sad

IF I ever tried it I'd get caught for not reporting that fake self employment as income to the welfare dept.

Quoting Djinn83:

 They could be claiming self employment, just enough to qualify for EIC and child tax credit. Its fairly easy to swindle the IRS. I could not work, collect disability, and claim to sell sewing projects, and earn 11k a year, without proof. I would just fill out a self employment form.

Quoting coug7099:


Quoting Djinn83:

It looks like they changed it. But an easy work around. Claim income from self employment, like mowing lawns etc. boom, child tax credit. It's only 3k minimum. When bush first added the child tax credit, it did not have income rules.

 

Is the Child Tax Credit Like the Earned Income Tax Credit (EITC)?

The Child Tax Credit is not the same as the Earned Income Tax Credit (EITC). The Child Tax Credit and EITC have different rules.

Many people who do not qualify for the EITC, qualify for the Child Tax Credit. Some people will qualify for both the Child Tax Credit and the EITC.

A married couple with two children will qualify for the EITC if their combined incomes are below $46,044. A married couple with two children will qualify for the full Child Tax Credit if their combined incomes are less than $110,000!

Unlike the EITC, you can:

  1. Get more Child Tax Credit if you have more than two children;
  2. Claim the Child Tax Credit and file as “married filing separately”;
  3. Claim the Child Tax Credit with an Individual Taxpayer Identification Number (ITIN).

Who Can Get the Child Tax Credit?

To get the Child Tax Credit, your child must be:

  • Your son, daughter, stepson, stepdaughter, adopted child, grandchild or eligible foster child.
  • Under age 17 at the end of 2011. Your child must be 16 years old or younger on December 31, 2011.
  • Your dependent. Your child must qualify as a dependent and be listed on your tax return as a dependent.
  • A citizen or United States (U.S.) resident. You can be a U.S. resident even if you do not have permission to live and work in the U.S.
**You must also earn more than $3,000 per year to qualify for the Child Tax Credit.


How Much Child Tax Credit Can I Get?

The amount of your Child Tax Credit depends on the number of children that you have. You can get up to $1,000 per qualifying child.


So that totally shoots the shit out of that person's claim that her non-working friend got $8000

Or does it? That doesn't say you need $3000 in EARNED income. Or does the word EARN in there mean you must EARN it? It confuses me when it gets down to the specifics. Either way for 3 kids the max would be $3000, not $8000.

 


 

Exile Island. A fun place with colorful people. Join our fitness forum and participate in our fitness competition.

sanderson7569
by Awesometastic on Mar. 9, 2013 at 9:54 PM
I don't know how they done it. I know he worked for cash on any work he did.


Quoting coug7099:

How did they get anything back if they didn't have any earned income?

Quoting sanderson7569:

we got $1,000 per child so we are getting $2,000 in the child tax credit thing. some people that we know, they have 3 kids, don't work, get disability checks so on and so on. they get like 8 grand back a year. he only worked for cash when he worked so he didn't have to claim everything he made. such bull shit.



Posted on CafeMom Mobile
Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)