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Last Updated: March 06, 2008
Even if you don't owe any taxes, you may qualify for credits that would result in a refund. For example, the Earned Income Tax Credit (EITC) or Child Tax Credit both provide refundable credits, up to $4,716 (for two or more qualifying children in Tax Year 2007) and $1,000, respectively. By not filing, an individual is missing out on the opportunity for "free money."
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