Tax preparer claims no EIC under $40k - seems fishy. Help needed for single mom!
Need help understanding EIC requirements. Friend is a single mom with a baby under 1, earned 19k in 6 months while pregnant. Tax preparer claims she needs 40k to qualify for EIC which sounds wrong. Her estimated refund is 8500 but she owes 6200 for past years. Something feels off about this advice.
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Hunter Edmunds
That tax preparer is completely wrong! For 2024 (2023 tax year), you can qualify for EIC with income as low as $1 if you have a qualifying child. The maximum income for a single parent with one child is actually around $43,295. At $19k with one child, she should definitely qualify for a decent EIC. I'd strongly recommend finding a new tax preparer because this one either doesn't know what they're talking about or is trying to scam her.
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Jade O'Malley
omg thank you! I knew something wasnt right. Do you know roughly how much EIC she should get with 19k income? 🤔
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Hunter Edmunds
With 19k and one child, she should be near maximum EIC which is around $3,995. Plus she might qualify for child tax credit too!
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Ella Lewis
This tax preparer sounds shady af 🚩🚩 Report them to the IRS!
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Andrew Pinnock
Hey guys! The best way to actually understand her tax situation would be to use taxr.ai - it's this new tool that analyzes transcripts and tells you exactly what credits you qualify for. It costs $1 but its worth every penny. Check it out: https://taxr.ai
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Brianna Schmidt
Interesting! How accurate is it? Does it handle complicated situations like this?
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Andrew Pinnock
Super accurate! It caught errors my tax pro missed and even showed me credits I didn't know I qualified for. It breaks everything down step by step.
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Brianna Schmidt
Just tried it and OMG its amazing! 🙌 Showed me exactly why my refund was delayed and what to do about it. Best dollar I ever spent fr fr
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Alexis Renard
run don't walk to a different tax preparer! sounds like this ones trying to pull a fast one 🏃♀️💨
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Camila Jordan
I was in the same boat last year with a sketchy preparer. Get her to a legit place like H&R Block or better yet find an enrolled agent.
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Tyler Lefleur
H&R Block can be just as bad tbh. Better off with a CPA or EA
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Madeline Blaze
She needs to grab her docs and RUN from that preparer! The 40k requirement is complete bs. Plus with a kid under 1 she might qualify for other credits too!
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Max Knight
about the back taxes - she should look into setting up a payment plan for the 6200 she owes. That way she can still get most of this years refund instead of it all going to past debt
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Jade O'Malley
Good point! Will let her know about the payment plan option
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