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Parent Post: The top is in....
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In Reply To
mella
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2/26/2025, 9:35:04 PM
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But again, in order to get child tax credit, you have to file your taxes at the end of the year. No matter if you are a low-income earner (still earned income). How will the IRS know to give you a refund/credit?
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wendyfl
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2/26/2025, 10:36:02 PM
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Right, but filing taxes doesn’t mean you actually pay them. 🤠
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mella
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2/26/2025, 11:20:38 PM
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Granted, but in your scenario, low-income earners get a paycheck from their job that collects taxes on their behalf. At the end of the year, they file their taxes and claim their deductions/dependents and in doing so will get earned income credit. Not everyone gets earned income credit (need to have dependents and make a certain amount). And if you are a low-income earner, you most likely work for someone. Usually, those who don't pay taxes throughout the year but file taxes at the end, are not low-income earners, but business owners (self-employed) and likely do not qualify for earned income credit, some do.
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