Is he lying or is it the truth. Because my family and I really rely on it.
2007-09-03 13:23:08 · 5 answers · asked by Beverly O 1 in Business & Finance ➔ Taxes ➔ United States
If he is stating the no one will be able to get the Earned Income Credit, then he is wrong. The repeal of the EIC would take more than one year, since many people already have received advance payments of the EIC for 2007.
If you are concerned that you may not qualify for EIC for 2007, consult with a tax preparer, or provide more details in another question. If your family still includes qualifying children and your family income is below a certain level, you will still get EIC.
No qualifications for the EIC that were in place for 2006 have been changed for 2007. No changes are anticipated.
2007-09-05 13:44:18 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
The only way that EIC would be eliminated is by an act of congress. This will be an election year which makes it very unlikely.
2007-09-03 22:14:51 · answer #2 · answered by ? 6 · 0⤊ 0⤋
I'll be polite and say that your FIL is mis-informed. The EIC is alive and well, and will not likely ever be repealed.
2007-09-03 21:55:28 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It's possible that congress could vote between now and then to eliminate it, but as of now, it's still valid for future years. I doubt it would be eliminated, unless the "fair tax" people get their way, and that's just not likely to happen.
2007-09-03 21:18:10 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
EIC still exists. You'll get it as long as you qualify.
2007-09-03 20:48:28 · answer #5 · answered by shoredude2 7 · 0⤊ 0⤋