Re:Amazon workers on Staten Island vote to unionize
by Retric on Saturday April 02, 2022 @04:14PM
(#30891315)
Not that 1,400$. 1,400$ of the 2,000$ child tax credit is refundable and that’s not a stimulus the GOP made part of the child tax credit refundable back in 2018.
Some nonrefundable tax tax credits cap at zero or the AMT for that year.
Other nonrefundable tax tax credits can get rolled over into future years, so people with actual incomes can still pay zero in some years. Aka they go to zero and roll over savings to next year.
However refundable credits mean an actual check even in years you paid zero taxes: American opportunity tax credit, Earned income tax credit, Child tax credit, Premium tax credit. Aka they go to zero then send you a check.
It not that common for people to get a check for the full amount, but it does happen.
Some nonrefundable tax tax credits cap at zero or the AMT for that year.
Other nonrefundable tax tax credits can get rolled over into future years, so people with actual incomes can still pay zero in some years. Aka they go to zero and roll over savings to next year.
However refundable credits mean an actual check even in years you paid zero taxes: American opportunity tax credit, Earned income tax credit, Child tax credit, Premium tax credit. Aka they go to zero then send you a check.
It not that common for people to get a check for the full amount, but it does happen.