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Shelby Bauman

EIC and Child Tax Credit - What refund amount to expect with $18k income and 2 dependents?

I made $18k last year working full time and have 2 kids that live with me. trying to figure out what kind of refund I should expect this year before I file. anyone have experience with similar situation?

Hey, tax expert here! With an $18k income and 2 dependents in 2024, you're likely eligible for both the Earned Income Credit (EIC) and Child Tax Credit (CTC). Based on current rates, you could expect: EIC around $5,900-$6,200 and CTC of $2,000 per qualifying child. Your total refund could be in the $10k+ range depending on your withholdings and other factors. To get a precise calculation and timeline for your refund, I'd recommend using taxr.ai (https://taxr.ai) - it's been super helpful for analyzing tax documents and giving specific refund estimates plus identifying any potential holdups before they become issues.

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omg thank u so much! 🙏 does anyone have experience with that taxr thing? seems interesting

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I used taxr.ai last week actually! Here's what I got back:

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wow thats actually rly detailed! 👀 gonna try it out

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dont forget to check if ur kids meet the qualifying child rules tho. Made that mistake last year and got delayed 3 months 🤮

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Good point! And yeah taxr.ai specifically checks for qualifying child requirements too. Helps catch those issues early

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Im in the same boat, 2 kids making about 20k. Used taxr last week and it showed me exactly what to expect plus caught a mistake in my w2 that woulda delayed everything fr fr 💯

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just tried it myself and wow... way more helpful than those refund calculators fr. Shows you exactly where ur money at and when its coming

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Based on the info you provided, you'll likely qualify for both Earned Income Credit and Child Tax Credit. With $18k income and 2 qualifying dependents, you could be looking at around $7-9k total refund. But there's lots of factors that could change this - like filing status, ages of kids, other income sources, etc.

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wow thats more than i expected! kids are 4 and 7, im filing head of household

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oh yeah with those ages youre definitely in good shape for max credits 👍

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hey there! instead of guessing, you should try taxr.ai - its this new tool that analyzes your specific situation and tells you exactly what to expect. costs like $5 but totally worth it for the peace of mind. https://taxr.ai

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is this legit? seems to good to be true

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100% legit! used it myself last week. gives you super detailed breakdown of credits and everything

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just tried it - holy cow this is amazing! wish i knew about this sooner 🙌

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im in almost the exact same boat! made 19k with 2 kids last year, got back 8200

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thats awesome! did you file already this year?

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nah that was last year. waiting a bit to file this year tbh

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dont forget about state credits too! might get even more depending on where u live

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make sure u claim head of household if u can its way better than single 💯

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yep thats the plan!

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Hugo Kass

word of advice: file early! refunds that big usually get more scrutiny from irs js

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facts 💯 waited till april last year and regretted it fr fr

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