Rebel, it is called tax rebates/deductions, for example, you have 5 dependents, you get so much you can deduct for them, if your deductions are more then you're income, you get that money given to you, I know that for a fact, don't tell me I am wrong
I certainly won't, especially if you're right.
You must be referring to the EITC, among others. I just did some searching, IRS website and others.
1040.com - Tax Credits
Also found the article everyone must be quoting from
Nearly half of US households escape fed income tax - Yahoo! News
I'll admit you have me at a disadvantage. Remember, I said,
I never found it (a way to get back more than I paid).
Well, I've never had kids. And the friends I did'em for, that was back before they had kids or married.
I had heard of this credit, but naturally had no first hand knowledge. I started to crunch some imaginary numbers on the IRS site, but the article did a good one for me. Just glancing at the IRS numbers, it sounds about right.
Basically you're talking about people who don't earn a whole lot and have kids to support.
The article did the maximum income, maximum credit and the final kickback.
$31
So you're right.
They are actually getting back money from the gov't without paying any taxes.
$31
People earning less or with fewer than 3 kids would be less of course
than
$31
If i'd only known about this earlier. I could've gotten married, had a bunch of kids, taken a crappy job and started cashing in on this gov't scam raking in my
$31
for the whole year!
I think we've found the solution to our $12,000,000,000,000 national debt.
We just get our money back.
$31 dollars at a time.
It'll take me a while to figure out how many years this is gonna take, though.
Gotta get a bigger calculator..............