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5 Answers

Is it possible to get more $$ in taxes than you paid?

Asked by: megan 537 views YA Discussion

I saw this black woman in Harlem with 5 kids go into a tax firm and she agrees to give the firm whatever % so she can get the money then and there and saw her spending it (later on) on nike’s and rocawear. She told me she works minimum wage so I was wondering with all her kids being used as tax rebates, is it possible that one could make more money in taxes than one paid?

5 Answers

  1. Gale on Dec 20, 2012 Reply

    Yes, because the Earned Income Tax Credit is a refundable credit.

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  2. Kerry on Dec 20, 2012 Reply

    yes it was set up years ago as one of the poverty programs

    it is essentially known as reverse income tax…or the earned income credit program

    if wages are below poverty level and have dependents, then file the return and each

    dependent is worth X dollars in return per child/situation…been around for years

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  3. Judy on Dec 20, 2012 Reply

    Definitely. Low income workers with kids generally get something called an earned income credit, and something called an additional child care credit. This can total thousands of dollars.

    Out of curiosity, what does her race have to do with this? Race is not considered for these credits, just income, filing status and number of kids.

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  4. Bash Limpbutt's Oozing Cyst© on Dec 20, 2012 Reply

    White women in MO benefit from it too, as do Hispanic men in GA and oriental couples in NC. The woman’s race and location are therefore irrelevant.

    You have no way of knowing where the money that she was spending came from, so just quit making up stories. Poor people need clothing just as much as anyone else does.

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  5. tro on Dec 20, 2012 Reply

    oh yes
    when someone actually works and gets paid that is called earned income(self employed is also earned income)
    and that entitles that person the Earned Income Credit based on the earnings and up to three children
    it is possible to get $ 5751 for that credit that she didn’t have withheld from her paychecks

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