California, like the federal tax return, has the Earned Income Credit. This is a refundable credit thatIf you do not owe taxes, you get a refund of the CalEITC amount.If you owe taxes, CalEITC reduces the amount of taxes you owe and if there’sl any credit left, you get a refund.Thus, it is entirely possible to get more refund back than you paid in. Note: the EITC is for families earning wages or self-employment income up to $24,950, so many taxpayers will not qualify.

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How is it possible that my California refund amount is greater than the amount I've paid in estimated tax?

Forum|Forum|7 years ago
June 1, 2019
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Best answer by BillM223

California, like the federal tax return, has the Earned Income Credit. This is a refundable credit that

If you do not owe taxes, you get a refund of the CalEITC amount.
If you owe taxes, CalEITC reduces the amount of taxes you owe and if there’sl any credit left, you get a refund.

Thus, it is entirely possible to get more refund back than you paid in. Note: the EITC is for families earning wages or self-employment income up to $24,950, so many taxpayers will not qualify.

B

BillM223Answer

California, like the federal tax return, has the Earned Income Credit. This is a refundable credit that

If you do not owe taxes, you get a refund of the CalEITC amount.
If you owe taxes, CalEITC reduces the amount of taxes you owe and if there’sl any credit left, you get a refund.

Thus, it is entirely possible to get more refund back than you paid in. Note: the EITC is for families earning wages or self-employment income up to $24,950, so many taxpayers will not qualify.

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