Without knowing your income, your filing status, or how many kids you REALLY have that are your dependents and whether they are under age 17, no way to tell. If you have 3 or more kids under 17 you are probably ok. Or if your income is low enough to get EIC, that might make up for what you owe.
I've claimed 9 dependents just about all year long. Will i owe or will child tax credit help me?
Depends on how many kids you really have. If you have only 1 or 2, you will probably owe.
Reply:Insufficient data for an intelligent response; how many children and what are their ages?, what is your gross income for the year?, what is your filing status?, the list goes on.
Reply:As above, insufficient data.
Go to IRS.GOV, print off a 2007 1040 and run the numbers using your 2008 ytd data. See if you owe.
The child tax credit is $1000, but only if the child is under the age of 17 on the last day of the year.
If it turns out you owe more than $1000, adjust your W-4 immediately. Owing a lot of money and having little or nothing withheld can lead to the IRS issuing a lock in letter to your employer.
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