[quote]rainjack wrote:
LIFTICVSMAXIMVS wrote:
rainjack wrote:
LIFTICVSMAXIMVS wrote:
rainjack wrote:
Earned Income Tax Credit and Child Tax Credit are refundable credits. That means you can claim them and get money back even if you owe no taxes.
Well no shit! If you pay in more than you owe you get something back.
But that’s not what you said or meant. You wrote:
When every thing is totaled up, the family will receive a “refund” of $6510.
Take my example to any qualified tax professional. Hell, just call them on the phone. They will tell you exactly the same thing I said. The actual refund may be off a bit, as I did it in my head - but not materially different than the $6510.
Only $800 of that is really his money. The other $5710 is wealth redistribution.
He is getting a 25% raise from the government for being poor, and
You are insinuating that a credit either gets added to the amount actually paid in or that it is a direct disbursement from the IRS (a welfare check). Where does the extra $5710 come from? Please show me where on form 1040 it allows for a negative “amount owed”.
The Earned Income Tax Credit goes on line 66a of the 2007 form 1040 (pretty fucking easy to find since it says "Earned Income Tax Credit)
$400 of the The Child Tax Credit will take care of the $400 tax. The balance of the $1000 per child credit ($1600) goes on line 68.
If you would take the time to actually look at the tax return, you would see that line 72 called “Total Payments”, and is the total of the preceding section, to include amounts with held from your pay check, the EIC, and any additional child tax credit.
Which is it? Are you a liar or just ignorant?
None of the above. Unlike you, I actually know what the fuck I am talking about.
But don’t take my word for it. A simple search on the IRS website turned up this article.
http://www.irs.gov/newsroom/article/0,,id=120665,00.html
Read the first paragraph of the IRS link. No - wait. You are probably too fucking stupid to do that. Let me just post it here:
Taxpayers should consider claiming tax credits for which they might be eligible when completing their federal income tax returns. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are refundable - taxes could be reduced to the point that a taxpayer would receive a refund rather than owing any taxes.
Please read the bold phrase several times.
It is pretty sad that you fucked your family because of your utter fucking stupidity - if you even have a family.
Thanks for playing. Go fuck your sister now.
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hey rainjack. it is funny how they argue with us when we can just go into our tax projection software and get an answer within 30 seconds while they listen to what some jerk off told them in a bar about their taxes. do they think we’re just making this up?