It changes with income, but here are the limits:
EITC Thresholds and Tax Law Updates
Current Tax Year 2006
Earned income and adjusted gross income (AGI) must each be less than:
$36,348 ($38,348 married filing jointly) with two or more qualifying children;
$32,001 ($34,001 married filing jointly) with one qualifying child;
$12,120 ($14,120 married filing jointly) with no qualifying children.
Tax Year 2006 maximum credit:
$4,536 with two or more qualifying children;
$2,747 with one qualifying child;
$412 with no qualifying children.
Investment income must be $2,800 or less for the year.
The maximum Advance Earned Income Tax Credit (AEITC) for TY 2006 the employer is allowed to provide throughout the year with the employee's pay is $1,648.
A “Qualifying Child” - A “qualifying child” may enable a taxpayer to claim several tax benefits, such as head of household filing status, the exemption for a dependent, the child tax credit, the child and dependent care credit, and the earned income tax credit. Prior to 2005, each of these items defined a qualifying child differently.
There is a link to the EIC calculator below.
2007-01-06 13:08:07
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answer #1
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answered by Smart1 3
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About $3869. The EIC tops out at 2 kids. And you can't file as Single and HOH. You must only choose one filing status.
2007-01-05 05:26:23
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answer #2
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answered by Celeste 6
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You should get at least 3000. Im not sure though. I really dont think the 3rd child matters. For ex: if someone with no children put someones kid on there taxes to claim them they always only carry 2. You dont get anymore with 3 than you do with 2 Call State Farm. They usually help
2007-01-05 04:51:27
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answer #3
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answered by Anonymous
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Do I look like H & R Block? Do I have a tax table handy? No. If you have a computer go online to IRS.gov and do your own taxes.
2007-01-05 04:49:42
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answer #5
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answered by smartypants909 7
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