Can some one educate me on Earned Income Credit?

1 Answer

Answer :

answer:From IRS.gov: EITC Income Limits, Maximum Credit Amounts and Tax Law Updates 2014 Tax Year Earned Income and adjusted gross income (AGI) must each be less than: $46,997 ($52,427 married filing jointly) with three or more qualifying children $43,756 ($49,186 married filing jointly) with two qualifying children $38,511 ($43,941 married filing jointly) with one qualifying child $14,590 ($20,020 married filing jointly) with no qualifying children Access the information for: 2015 Tax Year 2013 Tax Year 2012 Tax Year 2011 Tax Year Return to EITC Home Page Tax Year 2014 Maximum Credit: $6,143 with three or more qualifying children $5,460 with two qualifying children $3,305 with one qualifying child $496 with no qualifying children Investment income must be $3,350 or less for the year. For more information on whether a child qualifies you for EITC, see Qualifying Child Rules or Publication 596, Rules If You Have a Qualifying Child.

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