Spirit
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yes, especially if he was a student. there are all sorts of tax credits and incentives and these often can be carried forward for up to 7 years. you can use the credit whenever it's the most benefitial. i did one return last year where it was a status indian who only earned 1200 in taxable income but got back 3300. theres the cost of living credit, moving expenses reloaction credit, and 60 a month while your in school, plus tuition and books. students got it made here anyways. |
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Richard M
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There are a variety of credits, such as the Earned Income Credit where the Government will refund more money to you than you had withheld. |
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Dont Talk to Stranger
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i heard it |
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smancini3
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Yes. This is because of something called the earned income credit, which assists lower income individuals and families (for single it's those making under $22K/year). This is another government subsidy that they pay through tax returns. They're called refundable credits. There's a few more as well. |
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mom_of_1
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Yes he can, due to the earned income credit. However, H&R Block is known for all the mistakes they make and if they mess up the friend will pay not H&R. |
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gmw2
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yeah, with the earned income tax credit the government rewards the poor by redistributing cash that you paid in taxes to your brothers friend, because it is the "compassionate" thing to do, but sounds more like a way to buy trust of the poor in big government |
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tia
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Yes the itemized deductions (medical expenses and such) , and the child tax credit can help gain a larger return. If you are ever in doubt it may be best to take your return to a tax pro. They can help you gain a larger return cause alot of people miss these credits and itemized deductions themselves. There are so many of them. I cant even name them all. |
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♥ Mommy of 3
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It is most def. possible since he has a baby. EIC, or earned income credit. If you make uder a certain amount but have a certain # of dependents, you qualify for EIC. I got it 3 years in a row, but don't qualify this year. |
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kadel
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Yes, it is the earned income tax credit for low income, working poor. If that is the income for a family of 3 they would qualify. |
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smartypants909
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The deal is, the Earned Income Credit and the extra child care credit, yes you can get more back than you paid in. You are in a higher income bracket and will not qualify for these credits. |
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RN/JM
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Yes, it happened to me once. I paid minimal during the year and got back more, due to the kids and other deductibles...it can happen! :O) $$$ |
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Kris L
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Yes ... the baby means that your friend can claim the Earned Income Credit, and that can be quite a bit MORE than he actually paid in on taxes ... you can't do that, because you made too much money. the Earned Income Credit is for 'low income families' ONLY. |
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***~***
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It's that Earned Income Credit thingy. It's probably right. |
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BurnMaker
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yeah |
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Nodor
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I am getting back just over $5000. |
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netnazivictim
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happens all the time. |
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v b
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I guess you've never heard of EIC. EIC is about $2500 for the first child. Plus he might have been able to get all of his withholding back, plus a about $200 of child tax credit. Many states also have an EIC program (think 30% of federal).
$6000 does seem high with just one child, though. |
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Squadcar
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I've heard of getting more back than you paid in but not that much. |
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Lili
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yes |
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Elizabeth
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Do you know for sure that he only paid $900? He may only have owed $900, but actually paid $6900 through withholding or estimated taxes, especially if that was the same amount that he owed last year and he or his employer used last year as an estimate. Then when the tax pro calculated his actual income at the end of the year, if it was way lower than the previous year, then his taxes owed would also be way lower than last year. That combined with any child-related deductions or credits could cause a huge refund.
If it actually is an error then I have no idea what will happen, sorry. |
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MZ.BOSSY ONIA
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no iu havent |
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100% Organic Snarkâ„¢
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He's either lying to you, or they reviewed his tax returns from previous years and found more deductions that he didn't take advantage of at that time. |
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therealtreefitty
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It happens, people make mistakes. |
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dandidonna63
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he must have one good scam!! too bad in a year or two he will get audited by the irs and go to jail for fraud!! |
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