40%
32 million
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)
Unless you paid federal and state taxes you cannot get a refund. Many people make the mistake of thinking they can file taxes simply to get the earned income credit. They are wrong. It is called the earned income credit because they earned an income. So unless you worked at some point over the prior year you cannot get the earned income credit. And unless you paid taxes in then you have nothing to file or claim.
Much less making less money. About 50% of the people in the United States pay no income tax at all, and a large percentage of them actually get money back in the form of a earned income credit.
Regressive.
32 million
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)
Yes all self employed people can.
Unless you paid federal and state taxes you cannot get a refund. Many people make the mistake of thinking they can file taxes simply to get the earned income credit. They are wrong. It is called the earned income credit because they earned an income. So unless you worked at some point over the prior year you cannot get the earned income credit. And unless you paid taxes in then you have nothing to file or claim.
Much less making less money. About 50% of the people in the United States pay no income tax at all, and a large percentage of them actually get money back in the form of a earned income credit.
Both. A new tax credit called the Making Work Pay Credit was enacted. This will reduce the amount of tax you owe at the end of the year based on a percentage of your earned income. To reflect this change, the withholding amounts were reduced. Some people who may turn out not to be eligible to receive the credit may see their withholding drop, too. For example, the withholding tables for pension payments have been revised the same way even though pension income is not earned income.
In the year 2010 the percentage of people with multiple credit cards is 68%.
Regressive
Regressive. (:
Regressive. (:
No. Credit card companies will not give to people who have no income.
Regressive.^_^=