NuvF
Member
Tax benefits for DV winners who got NEW valid SS # s
It is TAX time and I thought i will share some info on claiming 'EIC' (Earned Income Credit) with you.
This info is especially beneficial for ppl who did or are doing AoS in US, and who in earlier years had NO 'valid' SS#s.
If you are 'eligible' and if you want to get full 3 years' benefits, you need to act before April 15th. .....read on.
[btw, as always, pl dbl/trpl chk info i give, and pl post if you think my info is wrong !]
This is great news if you have filed tax for 'tax years' 2005,2006 and 2007 as 'RESIDENTS' (ie form 1040 and filed 'maried filing jointly'. Rebates are more if you got 2 or more kids !
Ok, how are DV winners who got GC already or who are doing AoS are affected ?
It is due to the simple 'fact' that now you can get (or you already got) a 'VALID' SS # !
Earlier you may have filed taxes with (most probably) one spouse and kid/s having only ITIN/s, which makes you ineligible to claim EIC. But now since you have 'valid' SS# s you can claim EIC this year (ie for tax yr 2008) and 'RETROACTIVELY' for 2007,2006 and, if you do it before April 15th,.... for 2005 as well. You do this by filing form 1040-X, form for filing amendments.
To see who are 'eligible' to get EIC and to see what is a 'Valid SS#' go read info at this link.
http://www.irs.gov/individuals/article/0,,id=96406,00.html
If you file this year with use of a valid SS# you get the 'Stimulus Rebate' as well !
Now, this is NOT ONLY for ppl who got GC already in hand and got new SS#s. If your AoS i-485 is pending and you applied for i-765 and got an EAD, go to the SS office with it and get your 'valid' SS# , which enables you to file for this year, as well as file 'retroactively' for past 3 yrs.
If you have kids holding ITINs now, you will have to wait to get max benefit till you get GC and they are issued SS# s. After that, and if it is after April 15th, you will be able to file amendments for 2008,2007, and 2006. But if one spouse can get his/her SS# before April 15th you can file for 2005 as well and get benifits just for 2 of you.
Remember, all this is applicable ONLY to ppl who are/were 'US Residents for Tax Purposes'
Read about that here, (on chapter 1)
http://www.irs.gov/publications/p519/
Read and find out more info for yourself about this.
Hey, for some of you its a good way to 'recoup' the money you spent on the AoS process ! ( btw, am i eligible for a % commission if you get it 'cos of the tip i gave you here?, think about it, and if i do, pl donate it to a worthy charity here or in your home country !!)
Peace !!
Dfdo/
It is TAX time and I thought i will share some info on claiming 'EIC' (Earned Income Credit) with you.
This info is especially beneficial for ppl who did or are doing AoS in US, and who in earlier years had NO 'valid' SS#s.
If you are 'eligible' and if you want to get full 3 years' benefits, you need to act before April 15th. .....read on.
[btw, as always, pl dbl/trpl chk info i give, and pl post if you think my info is wrong !]
This is great news if you have filed tax for 'tax years' 2005,2006 and 2007 as 'RESIDENTS' (ie form 1040 and filed 'maried filing jointly'. Rebates are more if you got 2 or more kids !
Ok, how are DV winners who got GC already or who are doing AoS are affected ?
It is due to the simple 'fact' that now you can get (or you already got) a 'VALID' SS # !
Earlier you may have filed taxes with (most probably) one spouse and kid/s having only ITIN/s, which makes you ineligible to claim EIC. But now since you have 'valid' SS# s you can claim EIC this year (ie for tax yr 2008) and 'RETROACTIVELY' for 2007,2006 and, if you do it before April 15th,.... for 2005 as well. You do this by filing form 1040-X, form for filing amendments.
To see who are 'eligible' to get EIC and to see what is a 'Valid SS#' go read info at this link.
http://www.irs.gov/individuals/article/0,,id=96406,00.html
If you file this year with use of a valid SS# you get the 'Stimulus Rebate' as well !
Now, this is NOT ONLY for ppl who got GC already in hand and got new SS#s. If your AoS i-485 is pending and you applied for i-765 and got an EAD, go to the SS office with it and get your 'valid' SS# , which enables you to file for this year, as well as file 'retroactively' for past 3 yrs.
If you have kids holding ITINs now, you will have to wait to get max benefit till you get GC and they are issued SS# s. After that, and if it is after April 15th, you will be able to file amendments for 2008,2007, and 2006. But if one spouse can get his/her SS# before April 15th you can file for 2005 as well and get benifits just for 2 of you.
Remember, all this is applicable ONLY to ppl who are/were 'US Residents for Tax Purposes'
Read about that here, (on chapter 1)
http://www.irs.gov/publications/p519/
Read and find out more info for yourself about this.
Hey, for some of you its a good way to 'recoup' the money you spent on the AoS process ! ( btw, am i eligible for a % commission if you get it 'cos of the tip i gave you here?, think about it, and if i do, pl donate it to a worthy charity here or in your home country !!)
Peace !!
Dfdo/
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