Earned income credit--age requirement?
My daughter is not married and is 24 yrs old..she have a daughter 7 yrs old.the IRS rules state she have to be 25 yrs old.Now..she will be 25 April 12th...the rules do not enunciate anything about when a being has to be 25 to claim it...if she files the 15th would she qualify or do they look at the import tax year age...I called 3 times and get 2 different answers.I am still waiting on the 3rd answer.
And another question..she have been living on her own for several years alone next to her child...why do people own to be 25 yrs old to qualify??.the IRS in recent times said.."that's the rules"..and nothing else.
Answers: if your daughter have a qualifying child, and her 7 year outdated daughter is a qualifying child as long as she lives near her all year, next there is no age requirement for your daughter. she can be any age and still receive earn income credit.
the age requirement for earned income is just if the person have no qualifying child. since your daughter have a qualifying child, this doesn't thing to her.
The only requirements for your daughter is that she must enjoy EARNED income and no investment income to claim the credit. as long as she meets that, her age shouldn't business.
i hope this helps, i've also included the page from the irs website where on earth i found the info.
if she claims her child and nobody can claim her as a dependent she would qualify for EIC providing her income is within the thresholds.
have a dependent has no age ends on EIC
as far as your second question, theres no making sense of the rules the administration puts on us
If you're asking about that next I assume she's in a lower bracket, which money there are two other things to consider.
These could be within her favor:
On Form 1040 (not EX or A, etc)
Line 47 - if she had to use a babysitter to work
Line 52 - child excise credit
the age requirement is waived if you enjoy a dependant. I know this because my husband and i recieve the EIC and we are both under 25 next to a child. i posted the requirements to claim the EIC below:
You must meet the following EITC requirements:
Must hold a valid Social Security Number
You must have earn income from employment or from self-employment.
Your filing status cannot be married, file separately.
You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and file a joint return.
You cannot be a qualify child of another person.
If you do not own a qualifying child, you must:
be age 25 but below 65 at the end of the year,
live contained by the United States for more than half the year, and
not qualify as a dependent of another personage
Cannot file Form 2555 or 2555-EZ (related to foreign earn income)
How do you claim charge conjecture on dental or medical expenses?
I had some expenses for the year 2007, and plan to record my taxes on Turbo Tax, but how do I receive a deduction for my dental expenses, and what proof do I call for to send and/or where on earth?Answers: Only if you itemize rather than taking standard assumption. Most people don't find it advantageous to itemize unless they own a condo, or home of some sort. Then the medical and dental expenses are singular deductible to the extent they exceed 7.5% of your income. So it's a high threshhold and unless you own a chronic condition or surger/tretments without lots of reimbursement, you don't obtain it. You have to enjoy paid them, minus reimbursement, in the year you're file. It's Schedule A.
File your proof. You can only reduce by these expenses if they represent a very (I stingy very) substantial percentage of your income.
Can't remember just what they required, but it struck me as unreasonably lofty.
Oh, yeah, you should know that you're required to submit almost no actual additional documentation beside your return, you'll need to report these for seven years, in the skin you need them for an audit.
Just FYI.
Good Luck!
I found out my husband didn't income his taxes the year past we be married, what do i do? What could arise?
I think he owes individual about 900 dollars. It have been several years, why hasn't anyone contacted us and what could come up if he never pays them?Answers: They'd have to arrest me! Even then, plead ignorance and pay envelope up. I wouldn't worry roughly speaking it.
File jointly for this year, but next to injured spouse allocation to protect your share of any refund.
Next, generate him file NOW. The amount he owed have grown due to penalties and fees. The IRS may be slow, but they will find him and this will retreat you unless/until you fix it. There are penalties and interest, but there's also more serious consequences for failing to directory. Al Capone did time for tax evasion, not murder or bootlegging.
OK, they will seize his share of any refund due. He wishes to start paying on his payment plan NOW, or set up a latest one, and keep it up. He should touch with an IRS taxpayer counsel. The fact that he file and didn't pay, give them a longer time to chase him down. They won't forget it. If he's not going to act close to an adult, you trademark him--you married the fool.
7 years filing define.
Do the paperwork before freaking out.
You could receive a tax accountant to look at it. Depending on how you do things it might even work out for the better.