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bindy View Drop Down
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Direct Link To This Post Posted: Jan 03 2013 at 12:05pm

 

 

There is the Earned Income Credit.

 

It works something like this, if you file as Head of House Hold with one dependent child and earned under around $35,000 from wages you can get back a maximum of about $3,043 refund from the government (even if you paid no net income taxes). This is a refundable credit.

 

You do not qualify for the Earned Income Credit if someone else can claim you as a dependent or if you got more the $3,200 in unearned income for the year. Unearned income can be interest income among other things.

 

 

There is the Child Tax Credit

 

Basically you get $1,000 back form the government for each child that is your dependent 13 years of age or younger. You may qualify for this credit even if you paid no net income taxes. This is a refundable credit.

 

 

There is the Child and Dependent Care Credit

 

Basically you get from around $3,000 (one dependent) to $6,000 (two or more dependents) deducted from you tax liability for the dependents that you provide care for so that you can work.

 

 

 

There are other rules and requirements that go along with the Earned Income Credit , the Child Tax Credit and the Child and Dependent Care Credit.  You can check out the IRS website.

 

 



Edited by bindy - Jan 03 2013 at 2:25pm
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dreamz View Drop Down
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Direct Link To This Post Posted: Jan 03 2013 at 12:46pm
Originally posted by = dom76 = dom76 wrote:

Sounds like the same thing we have for the boys. The money market accounts they have are not theirs until they turn 18. Until then, both my husband and I can withdraw any monies we want. So the fact that she did it before you turned 18, makes sense. Just let her pay what is owed. Don't get too upset over it. I told my boys if they fluck up in HS, we are spending every last penny. If they get scholarships, then the money is theirs!



Yesssssssss indeed. You will not enjoy mh efforts while you wildin out in these streets.

Op aren't you the 17 yr old team mom complaining about no privacy?

More than likely your mother withdrew HER money to help provide for you and your baby. Let her pay what is owes, shut up and kim.
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Direct Link To This Post Posted: Jan 03 2013 at 12:50pm
Mama Dreamz plays no games in laying the smackdown.LOL
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Direct Link To This Post Posted: Jan 03 2013 at 12:52pm
Originally posted by dreamz dreamz wrote:

Originally posted by = dom76 = dom76 wrote:

Sounds like the same thing we have for the boys. The money market accounts they have are not theirs until they turn 18. Until then, both my husband and I can withdraw any monies we want. So the fact that she did it before you turned 18, makes sense. Just let her pay what is owed. Don't get too upset over it. I told my boys if they fluck up in HS, we are spending every last penny. If they get scholarships, then the money is theirs!



Yesssssssss indeed. You will not enjoy mh efforts while you wildin out in these streets.

Op aren't you the 17 yr old team mom complaining about no privacy?

More than likely your mother withdrew HER money to help provide for you and your baby. Let her pay what is owes, shut up and kim.
It was her college money that she didn't use for college
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Direct Link To This Post Posted: Jan 03 2013 at 1:04pm
Originally posted by Bunnyahh Bunnyahh wrote:

Originally posted by dreamz dreamz wrote:

Originally posted by = dom76 = dom76 wrote:

Sounds like the same thing we have for the boys. The money market accounts they have are not theirs until they turn 18. Until then, both my husband and I can withdraw any monies we want. So the fact that she did it before you turned 18, makes sense. Just let her pay what is owed. Don't get too upset over it. I told my boys if they fluck up in HS, we are spending every last penny. If they get scholarships, then the money is theirs!



Yesssssssss indeed. You will not enjoy mh efforts while you wildin out in these streets.

Op aren't you the 17 yr old team mom complaining about no privacy?

More than likely your mother withdrew HER money to help provide for you and your baby. Let her pay what is owes, shut up and kim.
It was her college money that she didn't use for college

but if she chose to have a baby instead of going to college...either way, she doesn't have the income to provide for herself. so her mother had to use the funds to provide for them. 

I'm not taking care of a grandchild AND paying for college. 
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Direct Link To This Post Posted: Jan 03 2013 at 1:06pm
yes it was stated.  and yes she is going to school as well
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Direct Link To This Post Posted: Jan 03 2013 at 1:08pm
Originally posted by Bribby Bribby wrote:

Ok 2011 was the first time I filed taxes since I had a job but I only had like $160 dollars in taxes to get back, I thought for some reason I could claim my daughter but I couldn't since I was being claimed.. Anyways all I got was a refund
This week in the mail I get a CP2000 notice talking about proposed changes and I may owe $1,700 to the IRS so this sent me into a panic..
I find out the information sent in is about some stocks ..
Basically my mom had some account in my name and took money out and that counted as MY income but I know nothing about it.
I call the IRS the guy is talkin about filing a Schedule D since the transaction is incomplete, and I tell my mom this and she's like well what if we do that and it comes out to you owing more.
Also the guy was asking me did I know about this and I didn't say anything... because I don't want my mom to be in trouble
She obviously knows something is what my dad is saying..
I'm trying not to get mad because my mom helps me a lot even financially,  but this was over $14,000 I KNOW was not all contributed to myself, and I had no idea of this until I got this notice.
She just wants to pay the amount they say I MAY owe.
I'm not sure if doing that will make this all go away??

please help
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Direct Link To This Post Posted: Jan 03 2013 at 1:09pm
Originally posted by Bribby Bribby wrote:

Originally posted by SamoneLenior SamoneLenior wrote:


wait, she must have forged your signature

I have accounts in my name but I had to sign so they could be opened


She said it was so "college thing" that she opened when I was younger and cashed out when I turned 18 but this was in June 2011, I didn't turn 18 until October 2011
these were on pg 1 & 2
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Direct Link To This Post Posted: Jan 03 2013 at 1:14pm
you should make a spinoff---
 
What would you do if your mom spent your college money?
 
What would you do if your mom got bill collectors coming after you for debts that aren't yours?
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Direct Link To This Post Posted: Jan 03 2013 at 1:15pm
How does the OP know what the money was spent on?
If the mother is payin' bills and buying food then....
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