Child Tax Credit Vs. Earned income Credit- Budget101 Discussion List

On the stimulis checks you can get a 300.00 additonal pay if you have a child tax credit. I was under the impression the Earned income credit and the child tax credit was the same thing.Today I found out that its not...Can some one tell me the diffrence?I filed for the Earned income

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  1. #1
    maria
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    On the stimulis checks you can get a 300.00 additonal pay if you have a

    child tax credit. I was under the impression the Earned income credit

    and the child tax credit was the same thing.Today I found out that its

    not...Can some one tell me the diffrence?I filed for the Earned income

    credit so I won't get the additional 300.00.








  2. #2
    Jessica M.
    Guest

    Default Child Tax Credit Vs. Earned income Credit






    <DIV style="FONT-FAMILY: Candara;">You will get it.
    <DIV style="FONT-FAMILY: Candara;">Child tax YOU claim on your tax return-the child must be under 23 years of age.
    <DIV style="FONT-FAMILY: Candara;">The Earned Income Credit is an additional credit you can take if your household income is under a certain amount.
    <DIV style="FONT-FAMILY: Candara;">Hope this helps!
    <DIV style="FONT-FAMILY: Candara;">Jessica in TN
    <DIV style="FONT-FAMILY: Candara;">
    -------Original Message-------


    From: maria
    Date: 5/20/2008 11:53:26 AM
    To: Budget101_@yahoogroups.com
    Subject: Budget101.com : Child Tax Credit Vs. Earned income Credit

    On the stimulis checks you can get a 300.00 additonal pay if you have a
    child tax credit. I was under the impression the Earned income credit
    and the child tax credit was the same thing.Today I found out that its
    not...Can some one tell me the diffrence?I filed for the Earned income
    credit so I won't get the additional 300.00.


    ------------------------------------



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  3. #3
    Tressa Watts
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    so my question is...if it was my ex-husbands year to claim my daughter HE gets

    the tax credit and not ME correct?? I think he shoudl have to split with me...










  4. #4
    maria
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    I think its two seprate things,as it is listed on the brake down on my taxes as: child tax credit and it is left blank and then on the earned income credit it says the dollar amount.When i went to see how much id get back more or less from irs,I put in 0 in the child tax credit space as it is on my brakedown.I am so confuzed about this. So I don't know how much I get,guess I'll wait and see.

    "Jessica M." <jessicamason37128@gmail.com> wrote: <DIV style="FONT-FAMILY: Candara;">You will get it. <DIV style="FONT-FAMILY: Candara;">Child tax YOU claim on your tax return-the child must be under 23 years of age. <DIV style="FONT-FAMILY: Candara;">The Earned Income Credit is an additional credit you can take if your household income is under a certain amount. <DIV style="FONT-FAMILY: Candara;">Hope this helps! <DIV style="FONT-FAMILY: Candara;">Jessica in TN <DIV style="FONT-FAMILY: Candara;"> -------Original Message------- From: maria <DIV dir="ltr" style="FONT-SIZE:
    11pt;">Date: 5/20/2008 11:53:26 AM To: Budget101_@yahoogroups.com Subject: Budget101.com : Child Tax Credit Vs. Earned income Credit On the stimulis checks you can get a 300.00 additonal pay if you have a child tax credit. I was under the impression the Earned income credit and the child tax credit was the same thing.Today I found out that its not...Can some one tell me the diffrence?I filed for the Earned income credit so I won't get the additional 300.00. ------------------------------------ *~*~*~*~*~*~*Free Money Play Banko!~*~*~*~*~*~* http://budget101..com/ *~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~* To View the List Archives Please Visit http://forums.budget101.com Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/Budget101_/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/Budget101_/join (Yahoo! ID required) <*> To change settings via email: mailto:Budget101_-digest@yahoogroups.com mailto:Budget101_-fullfeatured@yahoogroups.com <*> To unsubscribe from this group, send an email to: Budget101_-unsubscribe@yahoogroups.com <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/


    <FONT face="comic sans ms" color="#bf005f" size="4">Maria


  5. #5
    Jessica M.
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    Hmm.....you may want to check with who did your taxes--if you get the EIC ,

    you automatically qualify for the Child Tax Credit--which has nothing to do

    with income. It is not a one or the other. With regards to the stimulus

    check---You should qualify for $300 each child that you claimed on your

    taxes regardless of their age.



    -------Original Message-------



    From: maria

    Date: 5/20/2008 1:11:00 PM

    To: Budget101_@yahoogroups.com

    Subject: Re: Budget101.com : Child Tax Credit Vs. Earned income Credit



    I think its two seprate things,as it is listed on the brake down on my taxes

    as: child tax credit and it is left blank and then on the earned income

    credit it says the dollar amount.When i went to see how much id get back

    more or less from irs,I put in 0 in the child tax credit space as it is on

    my brakedown.I am so confuzed about this. So I don't know how much I get

    guess I'll wait and see.



    "Jessica M." <jessicamason37128@gmail.com> wrote:

    You will get it.

    Child tax YOU claim on your tax return-the child must be under 23 years of

    age.

    The Earned Income Credit is an additional credit you can take if your

    household income is under a certain amount.

    Hope this helps!

    Jessica in TN



    -------Original Message-------



    From: maria

    Date: 5/20/2008 11:53:26 AM

    To: Budget101_@yahoogroups.com

    Subject: Budget101.com : Child Tax Credit Vs. Earned income Credit



    On the stimulis checks you can get a 300.00 additonal pay if you have a

    child tax credit. I was under the impression the Earned income credit

    and the child tax credit was the same thing.Today I found out that its

    not...Can some one tell me the diffrence?I filed for the Earned income

    credit so I won't get the additional 300.00.





    ------------------------------------








  6. #6
    Katrina Abel
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    You should still get the credit if you claim the child on your taxes. My husband

    and I did our joint and claimed our son but we did not qualify for the child tax

    credit. But we did get the Earned income credit. They are different but from

    what I could see its just if you claim the child on your taxes then you get the

    credit on the stimulus. Here is a link that also will show how much and when

    you will get the tax stimulus the thing with this is if it gives you an error

    then they have not processed yours yet. The first time I did it I got an error

    then I tried again a week later and it gave me all the info.

    https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC



    maria <secretwindow-jd1@sbcglobal.net> wrote: I

    think its two seprate things,as it is listed on the brake down on my taxes as:

    child tax credit and it is left blank and then on the earned income credit it

    says the dollar amount.When i went to see how much id get back more or less from

    irs,I put in 0 in the child tax credit space as it is on my brakedown.I am so

    confuzed about this. So I don't know how much I get,guess I'll wait and see.



    "Jessica M." <jessicamason37128@gmail.com> wrote:

    You will get it.

    Child tax YOU claim on your tax return-the child must be under 23 years of

    age.

    The Earned Income Credit is an additional credit you can take if your

    household income is under a certain amount.

    Hope this helps!

    Jessica in TN



    -------Original Message-------



    From: maria

    Date: 5/20/2008 11:53:26 AM

    To: Budget101_@yahoogroups.com

    Subject: Budget101.com : Child Tax Credit Vs. Earned income Credit





    On the stimulis checks you can get a 300.00 additonal pay if you have a

    child tax credit. I was under the impression the Earned income credit

    and the child tax credit was the same thing.Today I found out that its

    not...Can some one tell me the diffrence?I filed for the Earned income

    credit so I won't get the additional 300.00.



    <snip>










  7. #7
    Jessica M.
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    Yes that is correct. And I AGREE!



    -------Original Message-------



    From: Tressa Watts

    Date: 5/20/2008 4:11:30 PM

    To: budget101_@yahoogroups.com

    Subject: Budget101.com : RE: Claiming a child



    so my question is...if it was my ex-husbands year to claim my daughter HE

    gets the tax credit and not ME correct?? I think he shoudl have to split

    with me...












  8. #8
    Jessica M.
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    Everyone is elgible for the Child Tax credit as it no longer as anything to

    do with income levels if your child is 17 or under.

    The Earned Income Credit is based on income.



    -------Original Message-------



    From: Katrina Abel

    Date: 5/20/2008 4:12:35 PM

    To: Budget101_@yahoogroups.com

    Subject: Re: Budget101.com : Child Tax Credit Vs. Earned income Credit



    You should still get the credit if you claim the child on your taxes. My

    husband and I did our joint and claimed our son but we did not qualify for

    the child tax credit. But we did get the Earned income credit. They are

    different but from what I could see its just if you claim the child on your

    taxes then you get the credit on the stimulus. Here is a link that also

    will show how much and when you will get the tax stimulus the thing with

    this is if it gives you an error then they have not processed yours yet. The

    first time I did it I got an error then I tried again a week later and it

    gave me all the info. https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC



    maria <secretwindow-jd1@sbcglobal.net> wrote: I

    think its two seprate things,as it is listed on the brake down on my taxes

    as: child tax credit and it is left blank and then on the earned income

    credit it says the dollar amount.When i went to see how much id get back

    more or less from irs,I put in 0 in the child tax credit space as it is on

    my brakedown.I am so confuzed about this. So I don't know how much I get

    guess I'll wait and see.



    "Jessica M." <jessicamason37128@gmail.com> wrote:

    You will get it.

    Child tax YOU claim on your tax return-the child must be under 23 years of

    age.

    The Earned Income Credit is an additional credit you can take if your

    household income is under a certain amount.

    Hope this helps!

    Jessica in TN



    -------Original Message-------



    From: maria

    Date: 5/20/2008 11:53:26 AM

    To: Budget101_@yahoogroups.com

    Subject: Budget101.com : Child Tax Credit Vs. Earned income Credit





    On the stimulis checks you can get a 300.00 additonal pay if you have a

    child tax credit. I was under the impression the Earned income credit

    and the child tax credit was the same thing.Today I found out that its

    not...Can some one tell me the diffrence?I filed for the Earned income

    credit so I won't get the additional 300.00.



    <excess snipped by mods>






  9. #9
    margo oowens
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    I thought the child had to be under 17. I have a 19 yr old I claim ,I don't get earned income for her but I claim her as a dependant caz she lives scott free off us.

    &#32;



  10. #10
    luckyrascalcat
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    Both credits are based on income.



    EIC is for lower-income people - it is possible for single people to

    recieve it if they're income is very low. EIC can be claimed for

    non-dependents (in other words -- child lives with you but other

    parent claims child).



    Child Tax Credit has a much higher cut-off and you must be claiming

    a child that is 16 or younger as your dependent.



    The addt'l $300 applies the same as the child tax credit -- child

    must be your dependent on the tax return and must be 16 or under.



    BUT if anyone did not recieve the full amount of rebate check, they

    will have another chance on their 2008 return -- this is why the

    letter you recieve from the IRS says to keep the letter to aid in

    doing your 2008 return. The letter should also say where your money

    went, if it was intercepted for debt.



    You can find all sorts of answers on irs.gov.



    Peggy (tax preparer for 11 years)



    --- In Budget101_@yahoogroups.com, "maria" <secretwindow-jd1@...>

    wrote:

    >

    > On the stimulis checks you can get a 300.00 additonal pay if you

    have a

    > child tax credit. I was under the impression the Earned income

    credit

    > and the child tax credit was the same thing.Today I found out that

    its

    > not...Can some one tell me the diffrence?I filed for the Earned

    income

    > credit so I won't get the additional 300.00.

    >










  11. #11
    Sarah Long
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    The stimulus payment goes to whoever claimed the child on the income tax. If it wasn't your year to claim her then he gets it. I have friends that alternate every year on claiming their kids (they are divorced). When it isn't going to be their year they adjust their deductions so that they have more taken out for taxes in order to not get hit with a surprise in a bad way when it is time to file taxes.




  12. #12
    terri walberg
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    Yes the child has to be under 17. I think that stinks. My son was 17 end of last

    year and now I dont get credit for him either.



    Terri



    --- On Wed, 5/21/08, margo oowens <mro1010@yahoo.com> wrote:



    From: margo oowens <mro1010@yahoo.com>

    Subject: Budget101.com : Re: Child Tax Credit Vs. Earned income Credit

    To: Budget101_@yahoogroups.com

    Date: Wednesday, May 21, 2008, 6:27 AM















    I thought the child had to be under 17.

    I have a 19 yr old I claim ,I don't get earned income for her but I claim her as

    a dependant caz she lives scott free off us.






































  13. #13
    Vickie
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    <table cellspacing="0" cellpadding="0" border="0" background="none" style="font-family:arial;font-size:10pt;color:#000000;background-color:#ffffff;"><td valign="top" style="font: inherit;">

    I've read several emails about people complaining about their checks, come on people it is money that a few months ago no one counted on. I can't claim my daughter either & I have thousands of dollar worth of medical bills(& growing by the day) that I'll be paying on for years to come. But at least I'm getting something back which I can't complain about. Why do people have to be so greedy?








    --- On Fri, 5/23/08, terri walberg <nar2032000@yahoo.com> wrote:

    From: terri walberg <nar2032000@yahoo.com>
    Subject: Re: Budget101.com : Re: Child Tax Credit Vs. Earned income Credit
    To: Budget101_@yahoogroups.com
    Date: Friday, May 23, 2008, 9:17 AM


    <DIV id="yiv926422305">



    Yes the child has to be under 17. I think that stinks. My son was 17 end of last year and now I dont get credit for him either.

    Terri

    --- On Wed, 5/21/08, margo oowens <mro1010@yahoo. com> wrote:

    From: margo oowens <mro1010@yahoo. com>
    Subject: Budget101.com : Re: Child Tax Credit Vs. Earned income Credit
    To: Budget101_@yahoogro ups.com
    Date: Wednesday, May 21, 2008, 6:27 AM

    I thought the child had to be under 17.
    I have a 19 yr old I claim ,I don't get earned income for her but I claim her as a dependant caz she lives scott free off us.







  14. #14
    Shannon
    Guest

    Default Child Tax Credit Vs. Earned income Credit



    You make an excellent point. This isn't something we paid in years ago and have been eagerly awaiting it's return. It's a bonus and yet, people have had it spent and/or tracking it online, increasing the phone inquiry rate to the IRS to find out where their payment is, and generally demanding/issuing ultimatums if it doesn't arrive.

    ~S
    [quote]
    ----- Original Message -----
    From: Vickie

    <TABLE style="FONT-SIZE: 10pt;COLOR: #000000;FONT-FAMILY: arial;BACKGROUND-COLOR: #ffffff;" cellSpacing="0" cellPadding="0" background="none" border="0">


    <TD vAlign="top">


    I've read several emails about people complaining about their checks, come on people it is money that a few months ago no one counted on. I can't claim my daughter either & I have thousands of dollar worth of medical bills(& growing by the day) that I'll be paying on for years to come. But at least I'm getting something back which I can't complain about. Why do people have to be so greedy?







  15. #15
    tina young
    Guest

    Default Child Tax Credit Vs. Earned income Credit


    <table cellspacing="0" cellpadding="0" border="0" background="none" style="font-family:arial;font-size:10pt;color:#000000;background-color:#ffffff;"><td valign="top" style="font: inherit;">I guess all the greediness as you put it is because just like you we all have bills and would like to get everything we can.I have been reading these emails and they made me realize I will not be getting what I thought due to the fact my daughter was 17 at the end of the year, but me and only I took care of her all year>>

    --- On Fri, 5/23/08, Vickie <vickieanderson18@yahoo.com> wrote:

    From: Vickie <vickieanderson18@yahoo.com>
    Subject: Re: Budget101.com : Re: Child Tax Credit Vs. Earned income Credit
    To: Budget101_@yahoogroups.com
    Date: Friday, May 23, 2008, 3:21 PM


    <DIV id="yiv1080109617">




    <TABLE style="FONT-SIZE: 10pt;COLOR: #000000;FONT-FAMILY: arial;BACKGROUND-COLOR: #ffffff;" cellSpacing="0" cellPadding="0" border="0">


    <TD vAlign="top">


    I've read several emails about people complaining about their checks, come on people it is money that a few months ago no one counted on. I can't claim my daughter either & I have thousands of dollar worth of medical bills(& growing by the day) that I'll be paying on for years to come. But at least I'm getting something back which I can't complain about. Why do people have to be so greedy?








    --- On Fri, 5/23/08, terri walberg <nar2032000@yahoo. com> wrote:

    From: terri walberg <nar2032000@yahoo. com>
    Subject: Re: Budget101.com : Re: Child Tax Credit Vs. Earned income Credit
    To: Budget101_@yahoogro ups.com
    Date: Friday, May 23, 2008, 9:17 AM


    <DIV id="yiv926422305">



    Yes the child has to be under 17. I think that stinks. My son was 17 end of last year and now I dont get credit for him either.

    Terri

    --- On Wed, 5/21/08, margo oowens <mro1010@yahoo. com> wrote:

    From: margo oowens <mro1010@yahoo. com>
    Subject: Budget101.com : Re: Child Tax Credit Vs. Earned income Credit
    To: Budget101_@yahoogro ups.com
    Date: Wednesday, May 21, 2008, 6:27 AM

    I thought the child had to be under 17.
    I have a 19 yr old I claim ,I don't get earned income for her but I claim her as a dependant caz she lives scott free off us.








 

 
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