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i was inquiring about a tax credit for low income individuals called EITC

2007-09-20 17:38:37 · 1 answers · asked by lucky362.com 1 in Business & Finance Taxes United States

1 answers

OK, what about it?

People with 2 kids filing a joint return can get something for EITC with income up to a little over $38K. That's the highest limit - for one or no kids, or single or head of household, limits are lower. If you are married and file separate returns, you aren't eligible for EITC at all.

The amount of the credit can be as much as $4536 or as low as a couple dollars - depends on filing status, income and number of kids (up to 2 - you don't get extra EITC money for more than 2 kids). The EITC is a refundable credit, which means that if you are eligible, you get it even if you don't owe any taxes.

If you have other, specific questions, post again and somebody will answer.

2007-09-20 17:49:24 · answer #1 · answered by Judy 7 · 0 0

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