What is the tax based on the amount of money earned?
Income Tax is a tax based on the amount of money earned.
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)