Child Tax Credit Question

[Niels Bohr 72]

I heard from my parents who said their friends who made about 20k/year working the mills receive thousands of dollars in tax credit per year if they have kids. Is that true?

So, essentially, what does this say. I don't get it. So, at the end of the year these people would receive around 8k in refund checks?

What the hell man!

So, the high school drop outs who work the mills gets away with living an easy life. That is so ridiculous!

[Niels Bohr 72]

Note: Sorry for double post. Didn't complete my thought.

So, they are also rewarded for having kids? And, does that mean someone who is single, no kids, worked very hard gets a measly 20k without the addition 1k in tax credits/child?

I find it very outrageous. It gives these people an incentive for not to work hard. Working in the mills was their fault for dropping out of school. This gives me more reason to hate poor people who dropped out of school.

[dalegg 143]

Earned income credit plus child tax credits, yeah, and watch it- you're starting to sound like a "**"

Edited July 20, 2009 by dalegg

[Niels Bohr 72]

I know.

It's just not right in my opinion. People are smart, and they'll want to take advantage of this flaw (if you want to think of that way). Therefore, more reliance on governmental income. No incentive for them to go out into the world and get a future for themselves when they think it's too much work.

[1HappyGuy 45]

What your friends are probably talking about is the child tax credit and the earned income credit, both of which are refundable. A child under the age of 17 carries with them a $1,000 credit to offset taxes or get refunded. The earned income credit is intended to assist mostly parents with minor children. This credit increases with two children but not with additional kids. The earned income credit is available for single people over 25 and under 65, but the earned income limit is very low. Be happy you don't qualify.

If you think this is unfair offer to take your friends kids for six months in exchange for their tax credits. I don't think you will enjoy it or think you are coming out ahead.

[NickD 203]

I know.

It's just not right in my opinion. People are smart, and they'll want to take advantage of this flaw (if you want to think of that way). Therefore, more reliance on governmental income. No incentive for them to go out into the world and get a future for themselves when they think it's too much work.

Since we are not eligible to take a child tax credit, really don't pay attention to much about that in the 1040 book. But just a quick look over, the amount of credit cannot exceed what one owes in taxes, and any other credits are deducted from that amount, plus you have to be pretty much in the poverty level and paying taxes to get that credit with a limit as not to exceed what you pay in taxes.

Really do not feel these people are cleaning up from the government, just getting a bit of a break, and should people below the poverty level even be paying taxes?

Feel the OP is listening to an idiot that likes to distort the facts.

[Ban Hammer 13,346]

I know.

It's just not right in my opinion. People are smart, and they'll want to take advantage of this flaw (if you want to think of that way). Therefore, more reliance on governmental income. No incentive for them to go out into the world and get a future for themselves when they think it's too much work.

that's right - now pay your taxes and hope for change.

[rebeccajo 14]

What your friends are probably talking about is the child tax credit and the earned income credit, both of which are refundable. A child under the age of 17 carries with them a $1,000 credit to offset taxes or get refunded. The earned income credit is intended to assist mostly parents with minor children. This credit increases with two children but not with additional kids. The earned income credit is available for single people over 25 and under 65, but the earned income limit is very low. Be happy you don't qualify.

If you think this is unfair offer to take your friends kids for six months in exchange for their tax credits. I don't think you will enjoy it or think you are coming out ahead.

You don't have to be a single parent to use the earned income tax credit...........

[Niels Bohr 72]

Interesting. I've been filing away taxes back in my college days without realizing about all sorts of tax credits. Regrettably, I wasn't able to use them. But, hey, I am only getting older not younger. Better to have a nice income than live day to day struggling.

[rebeccajo 14]

Interesting. I've been filing away taxes back in my college days without realizing about all sorts of tax credits. Regrettably, I wasn't able to use them. But, hey, I am only getting older not younger. Better to have a nice income than live day to day struggling.

That's what income tax software is for!