Butrflynet wrote:You should have read the answer to the next FAQ.
Quote:Q2. Why should I be interested in the advance EITC?
A2. You can choose to get part of the credit in your paycheck, if
you are working;
you expect your adjusted gross income (AGI) and earned income will fall within the income limits for the year;
you expect to have at least one qualifying child; amd
you expect to qualify for the EITC.
Your employer will put a part of the EITC in your paychecks but there is a maximum amount that can be paid during the year.
Note: You may be able to claim a larger credit when you file your tax return because your employer can only pay a part of the credit to you in your paycheck. Also, you may be able to claim a larger credit if you have more than one qualifying child. But you must file your tax return to claim any additional credit.
To get the
advanced payment, you have to be working, and have a qualifying child plus qualify yourself. You only get part of the credit as an advance. There aren't many parents that can do all that and still bring up a kid properly, especialy single parents. You have to wait for the tax return to get the remainder. If you don't have a qualifying child, you don't get the advance payment. You have to wait for the refund once a year and hope prices don't go up.
This exchange provides a good example of the mindset so often found in liberals that just exasperates the heck out of conservatives like me.
Mr Liberal: "Poor people are paying (taxes) through the nose!"
Mr Conservative: "Did you know that low income wage earners are refunded most if not all of the taxes they pay?"
Ms Liberal: "Nice but not good enough. These people are so poor, they can't afford to wait for their refunds"
Mr Conservative: "That's why there is EITC that refunds the lowest wage earners even more than they pay in taxes
and which can be advanced to them in their weekly paychecks."
Ms Liberal: "Not good enough. The only people who can qualify for the advances are those who can expect to qualify for the Refund Plus program (EITC), expect to have at least one child, and actually have a job."
Let's examine why this set of requirements are unfair and inadequate:
1) You can only get an advance of the refund that will exceed what you are paying in taxes
if you are working. Just think of how unfair that requirement really is. In order to get an advance on a refund that equals more money than you will be paying in taxes, you actually have to have a job that requires you to pay taxes in the first place! Unbelievable!
2) You only get the advance if you expect to qualify for it! What the hell is that all about? Just give them the advance if they ask for it. If it turns out someone doesn't qualify we can be sure they'll give the money back to the IRS.
3) They have to
expect to have at least one child! What about all the poor people without children? They have to wait for their refunds! How typical of the "Let them eat cake" rich to actually expect these singles or couple without children to manage their money. They're poor people, they can't be expected to defer non-essential purchases until after they receive the refund!
4) You missed one of the unjust regulations. Your employer can only advance you part of the credit you expect to receive! Again, the government is discriminating against the poor by having some small holdback to assure that the total of advances does not exceed the credit to which the person is entitled. We can trust these people to pay any overage back to the government. It is insulting to suggest otherwise.
Quote:There aren't many parents that can do all that and still bring up a kid properly, especialy single parents.
All that?
Since they already have a kid, they've met that requirement. You qualify yourself by having a job that pays less than an established amount. That doesn't require an extra-effort on the part of anyone. The remaining requirement is have a job - this is too much to expect of parents (including single ones)?
EITC is not welfare. It is a tax program to assist folks who are working in low paying jobs. It only follows that if you don't have a job, you don't qualify for this program. There are other relief programs for folks who do not have jobs and in keeping with the majority of Americans wishes, these programs have been reformed to create incentives for people to go to work.
Maybe the government should just send everyone a check for $50,000 on January 1 each year. It can be funded with the taxes taken from people who
want to work. Heck the mere fact that they want to work evidences an advantage over the rest of their fellow Americans. Whatever a family doesn't need can be refunded the government every December 31st. With that money the government can fund the military.
