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    eathangerald's Avatar
    eathangerald Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 13, 2009, 08:22 PM
    How much money do you get for children on taxes?
    :confused:

    How much money do you get back for children on your income taxes? Can anyone help me with this?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Nov 13, 2009, 08:37 PM

    You don't get "money back"
    You get deductions to be used to reduce your taxable income.

    This allows you to often receive some of the tax money you paid in, though the year to be refunded depending on how your filed.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Nov 13, 2009, 08:40 PM

    What Chuck said is correct for the US. Are you in the US?
    Five Rings's Avatar
    Five Rings Posts: 459, Reputation: 7
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    #4

    Nov 15, 2009, 11:06 AM

    Actually you do get money back under some circumstances.

    If your kids are US citizens or residents and they are 16 or under you may be entitled to the Child Tax Credit.

    Read this carefully:
    Publication 972 (2008), Child Tax Credit
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Nov 16, 2009, 11:19 AM
    It is even more if you consider the Earned Income Credit.

    A single-parent household that has two or more children can get an EIC refund in excess of $2,500 over and above what was withheld.
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