so what happens if you thought you qualified and actually didn't? I'm new to this and only filed for it because it was suggested or something while i was filing my taxes this year. i'm only 22 and still dumb when it comes to this stuff so i've been stressed out over if It is considered fraud if I genuinely thought I qualified but didn't. I still do not know if I actually qualified but It would at least be nice to know what happens if I get an email (or if they even email you) at all to inform you of the mistake or if they just punish you for it in some other kind of way without contacting you about it or something.
Help, I cannot wrap my head around using 2019 Earned income instead of 2020. So If I use 2019 (because I earned MORE income) I probably earned too much, and won't be eligible for this credit. So, I guess I do not understand the benefit of using 2019 earned income. Don't you get more credit if you made less money? Please help, I keep looking into this, but I don't understand it.
Thank you so much for this information! I do have a question that is very important to me and my situation that I've been stressed about and I just found you and subscribed so thank u for explaining things so well. My question is, if my husband had 39,000 in self employment income (before the pandemic got bad) and then I had only about 1000 then we both went on unemployment, will the unemployment amount count and put us over the income limit? I read that unemployment doesn't count as "earned income" so I am extremely confused about this. Any answers or leads to answers on this would be so so so helpful. We get a nice tax return every year with earned income credit so it would sure be a bummer to not qualify this year due to the pandemic situation. Thank for your time!
Remember that each of you can remove 10k of unemployment from counting as taxable income or any income limit. Unemployment income is never counted as "earned income". Have you filed yet?
What if my ex gf claimed the EITC and I'm trying to claim my daughter as a dependent? Does that mean I won't qualify for that tax break now? I guess she didn't claim our daughter as a dependent. Just claimed the EITC. This tax stuff is kinda confusing lol
i did my taxes, because i have an LLC it was applied but not given. i already did my taxes didn't make any money last year because of the pandemic. my wife also i a contractor but made less than 15k. so the credit though applied. it was us actually having to pay ny state 957 and getting $1,876 from federal. so my questions are 1. is this going to be added and us not getting it!? or 2. do we just close shop get regular jobs so that we CAN get something back. this is the first year that we are actually getting something back.
My friend already file Tax return for me 2020.I got credit for my two kids.how do I know I can eligible for Eitc.or my I already got it.I don’t know the difference between File tax return & file EITC. Thank you
Hi Ricky. Please refer to the following: www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/who-qualifies-for-the-earned-income-tax-credit-eitc#Filing%20Status
I filed my 2020 taxes already. I put my 9 month old grandson as my dependent. My tax refund is a lot less than $5,584. Is it because i only worked 3 months of 2020? i received unemployment the rest of year but i had taxes withheld.
In such case, eligibility will be based on your 2020 tax return. Please refer to my latest video for an update on the proposed new child tax credit: ua-cam.com/video/I5ELjCLIhIg/v-deo.html
I'm on S.S.A. Disability per month.And I'm working as a caregiver for my brother. my income per month is $3800 per month do I Qualify for earn income credit caring for my brother?
Still confused about one thing: My 2019 Earned income is higher than my 2021 earned income. BUT my 2021 Adjust Gross Income is higher than my 2019 Adjusted Gross Income because of unemployment. Does that mean I qualify for it still? Thanks!
This office are all over here!
Thank you very much for providing very interesting information
Thank you. This was quite helpful and you were very clear.
They don't tell this in tax office!
I never heard of it! But know what it means! 🤨
Wholly shit! Never knew or heard of this! 🤔🤨🤨
so what happens if you thought you qualified and actually didn't? I'm new to this and only filed for it because it was suggested or something while i was filing my taxes this year. i'm only 22 and still dumb when it comes to this stuff so i've been stressed out over if It is considered fraud if I genuinely thought I qualified but didn't. I still do not know if I actually qualified but It would at least be nice to know what happens if I get an email (or if they even email you) at all to inform you of the mistake or if they just punish you for it in some other kind of way without contacting you about it or something.
Help, I cannot wrap my head around using 2019 Earned income instead of 2020. So If I use 2019 (because I earned MORE income) I probably earned too much, and won't be eligible for this credit. So, I guess I do not understand the benefit of using 2019 earned income. Don't you get more credit if you made less money? Please help, I keep looking into this, but I don't understand it.
I am trying to understand this also
It depends that's why run both numbers to see which one is best
My daughter was born in early June 2021 would she qualify for the credit? I already filed and got my return when I filed early 2022.
Thank you so much for this information! I do have a question that is very important to me and my situation that I've been stressed about and I just found you and subscribed so thank u for explaining things so well. My question is, if my husband had 39,000 in self employment income (before the pandemic got bad) and then I had only about 1000 then we both went on unemployment, will the unemployment amount count and put us over the income limit? I read that unemployment doesn't count as "earned income" so I am extremely confused about this. Any answers or leads to answers on this would be so so so helpful. We get a nice tax return every year with earned income credit so it would sure be a bummer to not qualify this year due to the pandemic situation. Thank for your time!
Remember that each of you can remove 10k of unemployment from counting as taxable income or any income limit. Unemployment income is never counted as "earned income". Have you filed yet?
I don’t know if my tax preparer gave me this credit, how can I check?
Good info.well explain..
Thank you 🙂
What if my ex gf claimed the EITC and I'm trying to claim my daughter as a dependent? Does that mean I won't qualify for that tax break now? I guess she didn't claim our daughter as a dependent. Just claimed the EITC. This tax stuff is kinda confusing lol
I received a irs form 15111 for tax year 2020. Where do i mail it back to? Needless to say i lost the return envelope
I got this form from irs but we have already filed or tax so what should be our next step
Sorry, a bit confused. I'm single with 0 kids and I make more than $16K, this means I cant file for the EITC correct?
How about the $2,000 per kids credit is that different? From this EIC ?
Great question. Yes, it is different.
i did my taxes, because i have an LLC it was applied but not given. i already did my taxes didn't make any money last year because of the pandemic. my wife also i a contractor but made less than 15k. so the credit though applied. it was us actually having to pay ny state 957 and getting $1,876 from federal. so my questions are
1. is this going to be added and us not getting it!? or 2. do we just close shop get regular jobs so that we CAN get something back. this is the first year that we are actually getting something back.
You need to consult with a tax preparer
If this plan passes, does it replace the current 2,000/child or is it in addition to the current child tax credit?
This would be in addition.
My friend already file Tax return for me 2020.I got credit for my two kids.how do I know I can eligible for Eitc.or my I already got it.I don’t know the difference between File tax return & file EITC. Thank you
Hi Ricky. Please refer to the following: www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/who-qualifies-for-the-earned-income-tax-credit-eitc#Filing%20Status
I filed my 2020 taxes already. I put my 9 month old grandson as my dependent. My tax refund is a lot less than $5,584. Is it because i only worked 3 months of 2020? i received unemployment the rest of year but i had taxes withheld.
It may be due to several reasons including the 3 months of wages instead of a full 12 months.
Hi, I filed my taxes already. What should I do?
In such case, eligibility will be based on your 2020 tax return. Please refer to my latest video for an update on the proposed new child tax credit: ua-cam.com/video/I5ELjCLIhIg/v-deo.html
Like we immigrated to US in July 2020, do we qualify?
Looks like it does not apply to married but filling separate.
Hi... Question...if I made $65000 last year and I have a qualify depend I can get refund or not??
It's tough to comment without seeing your entire tax profile. I hope you do!
@@locumcpa thanks 😊
It depends on your federal tax witheld
Maybe, go ask a tax preparer.
I'm on S.S.A. Disability per month.And I'm working as a caregiver for my brother. my income per month is $3800 per month do I Qualify for earn income credit caring for my brother?
How much money do I have to make to earn eitc?
do you offer any discounts for anytax preparer sofware?
We unfortunately do not.
Of I already filed my taxes. Will get any more money back if the new bill passes
Yes you will get it cus you file taxes
I never claimed a eitc
AT. Can one report to irs social security benefits
Yes
What does line 5 mean about if the child was disabled so if they are not u can’t claim it?
A child with a disability should not disqualify them.
What if my child lived with me outside of USA 7 months?
Single Can claim eic?
Yes www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/who-qualifies-for-the-earned-income-tax-credit-eitc#Filing%20Status
Still confused about one thing: My 2019 Earned income is higher than my 2021 earned income. BUT my 2021 Adjust Gross Income is higher than my 2019 Adjusted Gross Income because of unemployment. Does that mean I qualify for it still? Thanks!
Can I claim my EITC next year 2022 ?
You should be able to.
Si trabjas si
@@juanmercado4666 o tienes tu propio negocio como babysitting o ventas o otro servicio
Under age of 17 by 12/31/20 ...?
Can u claim ur son that's 25 and lives with u