Earned Income Credit (EIC) You may qualify for the EIC if your earned income and adjusted gross income are less than:
$12,880 ($15,880 if Married Filing Jointly) with no qualifying children. $33,995 ($36,995 if Married Filing Jointly) with 1 qualifying child. $38,646 ($41,646 if Married Filing Jointly) with more than 1 qualifying child. Child Tax Credit You can claim $1,000 for each child. The 2008 Child Tax Credit begins to phase out when your AGI is more than these limits:
$75,000 if Single, Head of Household or Qualifying Widow(er) $110,000 if Married Filing Jointly $55,000 if Married Filing Separately If your income tax is reduced to zero and your earned income is more than $8,500 (for 2008), you may be eligible to claim the Child Tax Credit.
Saver's Credit You could get a tax credit for up to half of what you contribute to a qualified retirement plan or IRA. Claim the Saver's Credit if you meet all the qualifications:
You're age 18 or older. You aren't a full-time student. You aren't claimed as a dependent on someone else's return. Your AGI doesn't exceed $26,500 ($53,000 if Married Filing Jointly, or $39,750 for Head of Household). AMT Credit Claiming Overpaid Taxes
Certain content Copyright © HRB Digital LLC. All Rights Reserved.
Don't Do Your Taxes™ - Let Us Do Them for You
Get started
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer .
Rocket Lawyer On Call® Attorneys