How do low income ppl get thousands back in taxes?

[BrothaZay]

$3600 per kid up to 3 kids and filing head of house hold

Is head of household a credit? Or just a deduction

 

[Marzupial]

Are you going thru a lack of financial health? Cause lately you don't do no more threads about hoes just money shyt

I told you to stop fukking them hoes

 

[Icantspell]

EITC

 

[BigMoneyGrip]

Is head of household a credit? Or just a deduction

It’s a deduction that reduces your tax liability

 

[Deflatedhoopdreams]

Child tax credit...it’s fukked up imo...you shouldn’t be paid to take care of your own kids

Let them get their money. They can have the kids for that price

 

[NatiboyB]

Kids..




U get at least 1500 back for each kid u got.

I think they changed that EIC stuff i claim 2 of my kids and my wife claims the other 2.

 

[Cel 510 kid ados forever]

I think they changed that EIC stuff i claim 2 of my kids and my wife claims the other 2.

I see they changed it 2 kids

 

[Spatial Paradox]

File Head of Household with dependents and the deductions reduce how much you owe so you would get back everything you paid during the year which would be a few thousand and then you get the refundable credits like the Earned income tax credit and Child tax credit

It’s a deduction that reduces your tax liability

These posts hit on how people get those big refunds.

Given how expensive kids are and the amount of money the federal government burns on other things, while giving the wealthy and corporations big ass tax breaks, low income families getting a refund isn’t something worth complaining about.

 

[Bubba T]

The people you talk about use/claim refundable tax credits such as the earned income credit/child care credit, etc. Since they have children they file head of household, claim children (and some relatives) on their return which lowers their tax liability, and then add these refundable credits to boost the return funds.

 

[Geek Nasty]

There’s dumb people out there playing games with dependents

 

[Armchair Militant]

Kids and fraud

 

[NatiboyB]

shyt can’t they use the school scholarships also? Like student loans or something to get some extra?

 

[NkrumahWasRight Is Wrong]

Kids and fraud

Tons of fraud

 

[Freedman]

shyt can’t they use the school scholarships also? Like student loans or something to get some extra?

Yeah their is a tax deduction for interest paid on Student loans during the year and two for College education expenses. Alot of lower income folks in college/with kids in college probably miss out on the college credits. Kind of a little finesse with those also you can claim college aid as income and the difference between the credit and your tax liability might fall in your favor

fukk I might start one of those Facebook "Tax Agencies" my damn self

 

[BigMoneyGrip]

If youre married and your wife doesn't work you get a bigger deduction when you claim head of house hold along with multiple children on the EIC... before the tax cut folk was seeing on average 12grand refunds...