Jan
I was not able to work at all in 2007 due to the health of my baby boy who was born 3 months early and has had many health issues. I had some myself this year as well. I have no income to report besides the social security benifits I get each month for my son. That is about $620.00 a month. Other than that I had no income due to work or anything like that! I have a friend though who keeps telling me I should still file and that I can and should still get a "child earned or unearned credit" (Not Sure Which One It Is?) now that I have my son. I figured that you can only get that if you have been working. She is so certain though that I am still eligable for the Child Earned or Unearned Credit. So I thought I would ask here and see what the responses are like. Just in case she is right. That money could so help out right now. Please share all info you can on this! If you can provied links to that would be great! Thanks in Advance.
Answer:
Corrected post:
I was in a similar situation for my 2004 taxes after my daughter was 14 weeks early. I did make a little under $3000 that year though so I got the earned income credit. The child tax credit can only reduce taxes that you owe, so you wouldn't be able to get it, because you won't owe any. You might be able to take the additional child tax credit though.
Sorry about the incorrect info a few minutes ago. I grabbed my tax box and 2004 was right on top. lol
Answer:
Its called a child tax credit, go down to Liberty Tax, they will fix it up for you. Its 1000 dollars!
Answer:
You need to file every year unless your income is below ($500.00), do what's right-&- Cherish!! The child!! Book Mark it-> del.icio.us | Reddit | Slashdot | Digg | Facebook | Technorati | Google | StumbleUpon | Window Live | Tailrank | Furl | Netscape | Yahoo | BlinkList