Tax Refund Estimate 2024: Single Parent, 4 Dependents, $24k Income

Hey there! Tax expert chiming in - for a single parent with 4 dependents making 24k in 2023, you're likely looking at a significant refund due to several credits. The Child Tax Credit alone could be worth up to $2000 per qualifying child under 17. Plus, you'll probably qualify for the Earned Income Tax Credit which could be substantial with 4 dependents. Looking at your income level, you might be eligible for the Child and Dependent Care Credit too if you paid for childcare. To get a really accurate estimate and timeline for your refund, I'd recommend checking out taxr.ai (https://taxr.ai). Its an AI tool that can analyze your specific situation and give you a detailed breakdown of credits, potential holdups, and when you might see that money hit your account. Way better than playing the guessing game with the WMR tool tbh.

Based on your situation, you're likely eligible for some significant credits. With 3 qualifying children, you should get the Child Tax Credit and probably qualify for Earned Income Credit. The adult dependent could get you an Other Dependent Credit. Just rough math - you're probably looking at $7000-9000 federal refund range.

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in the same boat as you, single parent with 3 kiddos. filed last week, ill let you know what i get back!

make sure u claim head of household status if noone can claim u as dependent. its gonna make a big difference

dont forget about state refund too. with your withholding and dependents youll prob get most of that $756 back plus some credits depending on your state

My situation was pretty similar last year excepted I had 2 kids. Got back like 7k total between federal and state. Your probably gonna get more with the extra dependents

With your income and family situation, you're definitely looking at a substantial refund! At $24k income with 4 dependents, you'll likely qualify for the maximum Earned Income Tax Credit (around $6,935 for 3+ qualifying children), plus Child Tax Credit for your kids under 17 ($2,000 each). The adult dependent should get you the Other Dependent Credit ($500). Quick math: you're probably looking at $8k-10k federal refund, maybe more. Plus you'll get most of that state withholding back too. Definitely file as Head of Household and make sure to gather all your documentation for the dependents. You should be able to file soon since the IRS opens for e-filing on January 27th this year!