Are we eligible for the Child Tax Credit and/or the Earned Income Credit?

Our son was born on July 11, 2006. We got married on December 30th, 2006. I have had no taxable income this year. My husband made around $27000 this year. We were wondering if we are eligible for either of the credits because our son was born in July. Some places I read the baby has to be 6 months for the Earned Income credit. Also, does the Earned Income credit have age restrictions? For some reason I keep thinking I read that some where. I am 21 and my husband is 24.

Are we eligible for the Child Tax Credit and/or the Earned Income Credit?
There are special rules if a child is born or died in the year. If the child lived with you for the whole time he was alive in 2006, you can take both credits.





The EIC has an age limit (25-64) if you do not have a child. You do, so that rule does not affect you.





I assume you do not have investment income (including from a rental property) of more than $2,700.
Reply:If you were legally married on 12/31/2006 which you were you can file as MFJ. Your son is considered to have lived with you all year as he was born during the year. That would have been true had he been born on your wedding day although that would have messed up the wedding. The child tax credit is the same and should reduce your tax by $1,000 however in your case you will only be able to use $ 683 of that credit before you reach $0 tax . On $27,000 income your EIC would be $1,115. As for your ages that only applies if you were single in which case the age requirement is between 25 and 65. So you should get all of your withholding back, the $1115 EIC, possibly some ACTC and $50 phone excise tax credit.
Reply:www.irs.gov


for all of your forms, and instructions online.





child credit and earned income credit - YES.





at www.irs.gov - click on the site : FREE FILING.


Also if you make under $52,000 per year, you may file electronically for free.





So prepare you tax information using the downloaded forms in your rough draft, and then the online site has questions for your to answer - and free electronic filing.





GOD bless us one and all, always.


CPA-retired
Reply:You are in for a good return!
Reply:You are good. You'll probably get $4000 refund or thereabouts.





Darn.