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After you file
How do you know it is not being refunded to you?
The earned Income Tax Credit IS refundable, but if you have a tax liability, the credit may not show as a refund.
For example, if you have no tax liability and a $100 EIC credit, you will get a $100 refund.
With the same credit, if you have a $50 tax liability, (you would owe $50 without the credit,) the one hundred dollar EIC credit will give you a $50 refund.
With the same credit, if you have a $150 tax liability, (you would owe $150 without the credit), the one hundred dollar EIC credit will lower your tax bill (what you need to pay) to $50.
The credit is not allowed in you are Married but filing Separately.
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March 2, 2023
6:06 AM