$47 in tax money??

My husband and I just filed our taxes and I am confused. My brother is not married with one son and made $4,300. I am married with three children and made $47. We made nearly the same amount and I was told that I do not qualify for the child tax credit. Why do I not qualify for it this year but last year I made less money and qualified? Can I have someone else look over my taxes to check for mistakes or would that cause an audit?

$47 in tax money??

When you file your taxes, you don%26#039;t %26quot;make%26quot; any money. You get back what you overpaid throughout the year - unless you qualify for the earned income tax credit, then the government does give you money.

The child tax credit and the earned income credit are 2 different things. The child tax credit starts to phase out at about $110,000 of income for married filing joint.

Following is a link to the earned income tax tables look at it for yourself. The tables start on page 42.

http://www.irs.gov/pub/irs-pdf/p596.pdf

There is a cut off to receiving the EIC. It is for low income people with earned income. If you pay gets too high, you no longer qualify.

EITC Thresholds and Tax Law Updates

Current Tax Year 2007

Earned income and adjusted gross income (AGI) must each be less than:

$37,783 ($39,783 married filing jointly) with two or more qualifying children;

$33,241 ($35,241 married filing jointly) with one qualifying child;

$12,590 ($14,590 married filing jointly) with no qualifying children.

Tax Year 2007 maximum credit:

$4,716 with two or more qualifying children;

$2,853 with one qualifying child;

$428 with no qualifying children.

Investment income must be $2,900 or less for the year.

The maximum Advance Earned Income Tax Credit (advance EITC) for tax year 2007 the employer is allowed to provide throughout the year with the employee%26#039;s pay is $1,712.

The following is the link where that information is located.

http://www.irs.gov/individuals/article/0...

Did you make more than $39,783? That would be the problem.

You can%26#039;t always compare your taxes to someone else%26#039;s - there are so many nuances and variables. Just do your vigilant research or hire someone competent to prepare your taxes. Errors cost taxpayers loads of money that is rightfully theirs.

Also, having someone else look at your taxes, and/or filing a 1040x, Amended tax return, does not cause an audit. If a mistake was made, and you amend your return to do it correctly and receive what is rightfully yours, what%26#039;s the problem?

$47 in tax money??

you might want someone else to look at your taxes. I know the limit for a family of 4 is 50,000 not sure about a family of 5

$47 in tax money??

You don%26#039;t say what your husband made, so there%26#039;s no way to tell what was on your return, or if you even filed a joint return. Do you really mean that you made $47 for the year? And what does your brother and his income or his son have to do with any of this?

You only get the child tax credit if you owe tax for the year. With $47 income, you wouldn%26#039;t.

I%26#039;m guessing that you have some typos in your question. Post again with accurate info and you might get a better answer.

$47 in tax money??

Certainly, have some one else look at your tax return. Not a bad idea to double-check.

Child tax credit is only available when child is younger than 17 years old.

Amount of refund depends on amount of withholding throughout the year on your W-2s, which is controlled by the W-4s you filed with employer.

Very difficult to compare your tax refund with some one else--have to compare whole tax return, line by line.

Your refund indicates that is what you got back from government. But you didn%26#039;t tell us how much tax you, or your brother owed, and how much each of you paid in during the year. There are dollar limits on earnings to be eligible for many credits, such as EICm education credits and child tax credit.