1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

A Tax Refund with no income?

Discussion in 'Business & Tax Advice' started by rodprv, Mar 13, 2013.

Tags:
  1. rodprv

    rodprv Junior Member

    Joined:
    Nov 1, 2012
    Messages:
    157
    Likes Received:
    9
    My cousin always file her taxes, and receives a huge return even though she never works throughout the year, she has kids so I guess that's why.

    I wonder how can I receive a refund, I went school but did not work.
     
  2. hitman247

    hitman247 Executive VIP Premium Member

    Joined:
    Oct 12, 2008
    Messages:
    739
    Likes Received:
    1,851
    Occupation:
    Full Time IM
    Location:
    Your Six O'clock
    Home Page:
    Welcome to America.
     
    • Thanks Thanks x 7
  3. rodprv

    rodprv Junior Member

    Joined:
    Nov 1, 2012
    Messages:
    157
    Likes Received:
    9
    What is that supposed to mean?
     
  4. carlikito

    carlikito Regular Member

    Joined:
    Dec 28, 2009
    Messages:
    350
    Likes Received:
    214
    The federal govt has a tax credit for low income tax payers, commonly known as the EIC. This credit helps you meet your tax obligations and varies in amount depending on much you make for the year and how many dependents you claim.

    This credit is special because it can be "refundable". So if based on your income your EIC is higher than taxes own, the feds will "refund" you the difference. That's how poor people get a Tax Refund every year.
     
    • Thanks Thanks x 1
  5. wowhaxor

    wowhaxor Executive VIP Premium Member

    Joined:
    Apr 28, 2007
    Messages:
    2,021
    Likes Received:
    3,353
    Location:
    ?¿?
    Home Page:
    Earned income credit and claiming dependents when you are in a low income bracket, and yes it sucks I owe them a butt load and my roomate got $4,200 :( (she does work but she's a stripper and she hardly claims anything).
     
  6. loclhero

    loclhero Supreme Member

    Joined:
    Jun 11, 2007
    Messages:
    1,453
    Likes Received:
    2,413
    Gender:
    Male
    Location:
    Copperhead Road
    It means that in the USA, you can get a "refund" without earning a fucking dime all year.
    Next question?
     
  7. wowhaxor

    wowhaxor Executive VIP Premium Member

    Joined:
    Apr 28, 2007
    Messages:
    2,021
    Likes Received:
    3,353
    Location:
    ?¿?
    Home Page:
    More importantly without paying a fucking dime. They're essentially giving poor people other people's money when they file their taxes!
     
    • Thanks Thanks x 1
  8. abhi007

    abhi007 Jr. VIP Jr. VIP

    Joined:
    Aug 31, 2010
    Messages:
    5,305
    Likes Received:
    3,741
    Location:
    snip.li/TubH
    you did not work and did not earn any money and want to file for taxes what kinda question is that?
     
  9. rodprv

    rodprv Junior Member

    Joined:
    Nov 1, 2012
    Messages:
    157
    Likes Received:
    9
    Like I said, my cousin never works, so how is she getting a refund, and I can't? I work sometimes for google, but they never take taxes out, so I probably owe?
     
  10. andre09

    andre09 Junior Member

    Joined:
    Jul 15, 2008
    Messages:
    174
    Likes Received:
    257
    Your roomate is a stripper? Where do you find roomates like that?
     
    • Thanks Thanks x 1
  11. jasqui

    jasqui Regular Member

    Joined:
    Aug 11, 2008
    Messages:
    287
    Likes Received:
    71
    If she has dependents that is where the money is coming from. You seem to be working online there has to be something you can file, even if you make $5k over the course of the year you should be able to get something out of it.
     
    • Thanks Thanks x 1
  12. rodprv

    rodprv Junior Member

    Joined:
    Nov 1, 2012
    Messages:
    157
    Likes Received:
    9
    Since, I don't have dependents I probably owe, so I may as well not file.
     
  13. social1

    social1 Senior Member

    Joined:
    Oct 20, 2012
    Messages:
    954
    Likes Received:
    279
    Location:
    Sunny SoCal
    If you owe you will have to file eventually, regardless of dependents or not. The IRS does not make you file if they owe you, but if you owe them they will come after you. If only small income like less than $10k annually you can wait but anymore than that in untaxed income and you should file annually. Just my $0.02
     
  14. burnett4congress

    burnett4congress Jr. VIP Jr. VIP Premium Member

    Joined:
    Nov 17, 2011
    Messages:
    402
    Likes Received:
    162
    In addition the earned income tax credit, there is also the additional child tax credit which can pay out up to $1,000 per child.

    Both credits require some earned income to kick in, so your roommate (or whoever) is claiming some income somewhere.
     
  15. carlikito

    carlikito Regular Member

    Joined:
    Dec 28, 2009
    Messages:
    350
    Likes Received:
    214
    Bad idea dude! Pay now or you'll pay next year or maybe in ten years but eventually they'll get you and it won't be pretty.

    No one fucks with the IRS for long, so pay up and next year find ways to legally reduce your tax burden.
     
  16. burnett4congress

    burnett4congress Jr. VIP Jr. VIP Premium Member

    Joined:
    Nov 17, 2011
    Messages:
    402
    Likes Received:
    162
    I forgot that the American opportunity credit is also refundable. You can get $1k cash without putting anything in if you are going to undergraduate school.
     
  17. ryanmercer

    ryanmercer Regular Member

    Joined:
    Feb 2, 2009
    Messages:
    201
    Likes Received:
    66
    Occupation:
    Sr. ECO Import Agent
    Location:
    Speedway, IN
    Home Page:
    I hate earned income credit *grumbles* An ex of mine makes like 30k, she gets like 8k back on her taxes (about twice what she pays) because of her 5 fucking daughters from 4 dads.