- May 20, 2008 at 4:53 pm #257747
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”
> On the stimulis checks you can get a 300.00 additonal pay if you
> child tax credit. I was under the impression the Earned income
> and the child tax credit was the same thing.Today I found out that
> not…Can some one tell me the diffrence?I filed for the Earned
> credit so I won’t get the additional 300.00.
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