Yes! It doesn't matter how much you owe on your tax return when you file it. The issue is whether you have enough taxable income after subtracting your deductions and exemptions from your adjusted gross income to result in a tax liability of $7500 or more to offset the non refundable credit...
Your tax liability is the total amount of tax on your income minus any non-refundable credits such as child tax credit, dependent care credit to name a few.
This can also include additional taxes like self-employment tax, household employment tax, and tax penalties such as the 10% early...