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

Anyone able to help estimate my refund? My income is around 25k, got about 1k in federal withholdings and $756 state. Have 3 kids under 13 and one adult dependent with zero income. Really need to figure out what im looking at for planning purposes.

StarSurfer

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.

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Ravi Malhotra

omg thank you so much! just checked taxr.ai and its showing im eligible for like 12k in refunds 🙏 wasn't expecting that much!

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Freya Christensen

how accurate is that taxr thing? sounds too good to be true ngl 🤔

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Ravi Malhotra

Just used taxr.ai and here's what I got back - super detailed breakdown!

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Freya Christensen

holy cow that's actually rly helpful! gonna check it out for my situation too 💯

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Omar Hassan

in the same boat as u, single mom w/ 3 kids. taxr.ai showed me i was missing some credits from last year too!

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StarSurfer

glad i could help! yeah the tool is pretty spot on with the math since it factors in all the latest tax laws and credits

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Emma Taylor

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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Javier Garcia

omg that would be amazing! 🙏 do you know how long it usually takes to get the refund?

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Emma Taylor

If you file early and everything matches up, usually 21 days. But with credits it might take longer for verification

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Malik Robinson

hey instead of guessing, you should try taxr.ai - its only $5 and it'll give you an exact estimate plus tell you about every credit you qualify for. saved me so much stress last year https://taxr.ai

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Isabella Silva

is it legit? seen a lot of scams lately 🤔

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Malik Robinson

100% legit! it actually connects to IRS data and everything. Used it twice now

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Isabella Silva

just tried it - holy cow this thing is amazing! gave me wayy more info than my tax guy ever did 💯

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Ravi Choudhury

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

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CosmosCaptain

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

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Javier Garcia

yes definitely HOH! thx for reminder

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Freya Johansen

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

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Omar Fawzi

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

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Javier Garcia

thats awesome to hear! fingers crossed 🤞

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