Wednesday, October 21, 2009

Can anyone tell me how much of CHILD TAX CREDIT I WILL GET BACK?

im a single mother, just had a baby and i didnt work the whole year only about 7 months..can anyone estimate?

Can anyone tell me how much of CHILD TAX CREDIT I WILL GET BACK?
Just had a baby as in born in 2006 or born in 2007? Since you did not say how much you earned, it would be hard to say. If you earned less than the standard deduction for a head of household plus two exemptions (assuming baby was born in 2006), then your taxable income would be zero, therefore your tax liability would be zero. Since the child tax credit cannot make your tax liability less than zero, unless you had three children, then you would get no benefit for the child tax credit. Whatever you paid in through withholding would come back to you and you would probably get the earned income credit as well, which is a refundable credit and can increase your refund to be more than your withholding.
Reply:you can find out by going to expresstaxrefund.com...this site just estimated my child tax credit


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