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It was enacted in 1975, but has seen many revisions over the years.
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Is earned income credit a tax credit?
The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Basically, rather than withholding the tax, the money is available with your paycheck.
Is earned income tax credit an itemized deduction?
No. The earned income tax credit is a credit received by some based on their income and lawful dependent children. It is not a deduction of any kind.
How much taxable income do you have to make to get the earned incomecredit return?
When you qualify for the earned income tax credit and you have the qualified taxable earned income of 1 to 50 you can get 2 of earned income tax credit. And it also possible that could qualify for some of the making work pay tax credit. This would only happen when your income tax return is completely correctly.
Earned Income Credit (EIC) Calculator?
Earned Income Credit (EIC) Calculator Earned Income Credit (EIC) is a tax credit available to low income earners. In some cases the EIC can be greater than your total income tax bill, providing an income tax refund to families that may have little or no income tax withheld from their paychecks. Use this calculator see if you qualify for the Earned Income Credit, and if so, how much it might be worth to you and your family. This calculator creates estimated values for tax year 2010.
Can you receive tax refund if you have no income?
no you may not If you have no earned income, you would not qualify for the earned income credit.
Is earned income credit a tax credit?
The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families. Basically, rather than withholding the tax, the money is available with your paycheck.
Is earned income tax credit an itemized deduction?
No. The earned income tax credit is a credit received by some based on their income and lawful dependent children. It is not a deduction of any kind.
What is eic?
eic would probably be referring to the EARNED INCOME TAX CREDIT (EITC) Go to the IRS gov website and use the search box for Earned Income Tax Credit (EITC) The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families.
How much taxable income do you have to make to get the earned incomecredit return?
When you qualify for the earned income tax credit and you have the qualified taxable earned income of 1 to 50 you can get 2 of earned income tax credit. And it also possible that could qualify for some of the making work pay tax credit. This would only happen when your income tax return is completely correctly.
Earned Income Credit (EIC) Calculator?
Earned Income Credit (EIC) Calculator Earned Income Credit (EIC) is a tax credit available to low income earners. In some cases the EIC can be greater than your total income tax bill, providing an income tax refund to families that may have little or no income tax withheld from their paychecks. Use this calculator see if you qualify for the Earned Income Credit, and if so, how much it might be worth to you and your family. This calculator creates estimated values for tax year 2010.
Can you receive tax refund if you have no income?
no you may not If you have no earned income, you would not qualify for the earned income credit.
What is the earned income tax credit for tax year 2009?
The earned income credit (EIC) is a tax credit for certain people who work and have earned income under $48,279. A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC may also give you a refund.Go to the IRS gov website and use the search box for Publication 596 (2009), Earned Income Credit (EIC)
Where can one find an earned income credit table?
The IRS government site has an earned income tax credit table. Also, Turbo Tax has a good earned income credit table. Turbo Tax will ask questions that will help one determine if they qualify for a credit. Then, one can use their income credit table to see how much credit they can claim.
How does the earned income credit produce a negative income tax?
The EITC is a REFUNDABLE TAX CREDIT. Go to the IRS gov website and use the search box for EITC Home Page The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate income working individuals and families.
Who is eligible for the earned income tax credit?
If you had miscellaneous income from working for an individual and received a 1099misc form would this income qualify for the earned income credit??
How can someone legally not pay taxes?
If they have tax exempt income for items such as a Roth IRA, then they do not have a tax burden. Also, it possible with low income and tax credits such as the child tax credit, Hope credit, and earned income credit, so have your total income tax reduced to zero.
How many people get Earned Income Tax Credit?
32 million
