when using the kiplinger rebate calculater , I was asked how many children did i claim the CHILD CREDIT for on my tax return.. Athough I claimed all of my children on my return my tax preparer told me i was not elegible for the child tax credit because i did not have any %26quot;taxable income%26quot; When i asked what that means i was told that i did not qualify because i did not pay any federal taxes.(i had 9 exemptions and did not pay any state or federal tax) My question is : will i still recieve the additional $300 for my two children even though i wasn%26#039;t allowed the credit on my return?
Will i get a stimulous rebate for my kids? I didnt recieve the child tax credit this year but i did claim them
You will receive an additional $300 rebate for each %26quot;qualifying child%26quot; (each dependent child under 17) regardless of whether you were able to receive the Child Tax Credit for them.
Unless you qualify for the Additional Child Tax Credit, you cannot reduce your tax liability past zero. So while you may not be eligible for any more credit past a certain point, all of your children under 17 are still treated as a %26quot;qualifying child%26quot; under the rules.
Quoting from the IRS:
Those with children will get an additional $300 for each qualifying child. To qualify, a child must be eligible under the Child Tax Credit and have a valid Social Security number.
Will i get a stimulous rebate for my kids? I didnt recieve the child tax credit this year but i did claim them
No. To fall into this category you have to had made at least $3000 taxable income for 2007.
Will i get a stimulous rebate for my kids? I didnt recieve the child tax credit this year but i did claim them
As long as you had over $3000 in earned income on your 2007 tax return, you are eligible for a $300 stimulus check for yourself even if you didn%26#039;t owe any taxes. And if you are eligible, then you%26#039;d also get $300 for each dependent child under age 17 claimed on your tax return.
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