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  2. Earned income tax credit - Wikipedia

    en.wikipedia.org/wiki/Earned_income_tax_credit

    The earned income tax credit has been part of political debates in the United States over whether raising the minimum wage or increasing EITC is a better idea. [5] [6] [7] In a random survey of 568 members of the American Economic Association in 2011, roughly 60% of economists agreed (31.7%) or agreed with provisos (30.8%) that the earned ...

  3. Adjusted Gross Income: What It Is and How To Calculate ... - AOL

    www.aol.com/adjusted-gross-income-calculate...

    Your AGI determines whether you qualify for tax credits such as the Earned Income Tax Credit. For example, for the 2023 tax year, if you’re married filing jointly and have two qualifying ...

  4. Child tax credit (United States) - Wikipedia

    en.wikipedia.org/wiki/Child_tax_credit_(United...

    e. The United States federal child tax credit (CTC) is a partially-refundable [a] tax credit for parents with dependent children. It provides $2,000 in tax relief per qualifying child, with up to $1,400 of that refundable (subject to a refundability threshold, phase-in and phase-out [b] ). In 2021, following the passage of the American Rescue ...

  5. 7 Biden-Backed Tax Incentives To See if You Qualify For ... - AOL

    www.aol.com/7-biden-backed-tax-incentives...

    If you make under $150,000 or have a combined family income under $300,000, you can get a $7,500 tax credit for qualifying new electric vehicles. For used electric cars, a $4,000 credit is ...

  6. New Law Gives You $8,000 for Free To Make These 5 Home ... - AOL

    www.aol.com/finance/law-gives-8-000-free...

    The Inflation Reduction Act of 2022 offers more than $8,000 in tax credits or rebates when you make specific energy improvements to your home. ... homeowners in lower income households — earning ...

  7. Standard deduction - Wikipedia

    en.wikipedia.org/wiki/Standard_deduction

    t. e. Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount ...

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