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What is Earned Income Credit (EIC)?

Answer Question
 
Anonymous

Asked by Anonymous at 4:31 PM on May. 2, 2009 in Money & Work

Answers (9)
  • IRS EIC FAQ:
    http://www.irs.gov/individuals/article/0,,id=96466,00.html
    VeronicaLee

    Answer by VeronicaLee at 4:36 PM on May. 2, 2009

  • You get a tax credit back if you have children, but I think you have to make under a certaine amount.
    Anonymous

    Answer by Anonymous at 4:36 PM on May. 2, 2009

  • no, you don't have to have children.....

    Tax Year 2008
    Earned income and adjusted gross income (AGI) must each be less than:

    $38,646 ($41,646 married filing jointly) with two or more qualifying children
    $33,995 ($36,995 married filing jointly) with one qualifying child
    $12,880 ($15,880 married filing jointly) with no qualifying children

    Tax Year 2008 maximum credit:

    $4,824 with two or more qualifying children
    $2,917 with one qualifying child
    $438 with no qualifying children

    Investment income must be $2,950 or less for the year
    VeronicaLee

    Answer by VeronicaLee at 4:39 PM on May. 2, 2009

  • Peace VeronicaLee you take this shit seriously!!!
    Anonymous

    Answer by Anonymous at 4:44 PM on May. 2, 2009

  • ...she was just answering the question? jeez
    Anonymous

    Answer by Anonymous at 4:49 PM on May. 2, 2009

  • Jeez, geez, lol
    Anonymous

    Answer by Anonymous at 4:51 PM on May. 2, 2009

  • tax welfare
    Anonymous

    Answer by Anonymous at 5:26 PM on May. 2, 2009

  • Veronica does have the information correct. But to add, if you have no children, you DO have to be 25 years of age to qual.
    lifeasinoit

    Answer by lifeasinoit at 8:33 PM on May. 2, 2009

  • Just another welfare program for people that don't work enough---not fair to those of us that do---we pay higher taxes so you can get a few more bucks, great, huh?
    Anonymous

    Answer by Anonymous at 1:23 AM on May. 4, 2009

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