Just went to H&R Blocks site to calculate at least approximately how much if anything we'd get back this year since DH only worked for about 3 month last year. According to their calculator we'd actually get back more than he paid in,is that just a scam to get you to go to one of their offices or what? It certainly sounds too good to be true :?
Earned income credit is a refundable tax credit, so it is possible. However, if he was on unemployment much of the year, did they give you a place to put that in? Unemployment is taxable income, and they don't withhold taxes out of it unless you tell them to, which most people don't. The IRS had a guide to free tax return sites last year, I'll see if I can find one for this year and let you know.
No I did not a see a place to input the unemployment compensation that he had received,he received compensation for about 10 weeks last year,I wonder how much tax he will have to pay on that,is there a percentage?
That's good, I did not know that. Not doing taxes this year, obviously! 8) Annette, the tax rate would depend on your other income. The taxable portion will just be ordinary income.
$2400 is untaxable, also like someone mentioned the EIC is a refundable credit in which yes, you can get back more than you put in also keep in mind the Additional Child Tax Credit is as well. If you go to H & R Block pm me 8)
No EIC for us.I did the calculation once more this morning,adding the unemployment and everything else like mortgage interest etc. and it still came out to be more than what he'd paid in...
