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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. [ 4 ] [ 5 ] [ 6 ] 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 ...
Children or relatives claimed. Filing as single, head of household, or widowed. Filing as married filing jointly. Zero. $18,591. $25,511. One. $49,084. $56,004
2020 Tax Year Earned Income Tax Credit Income Limits . If your filing status is: Number of Qualifying Children. 0. 1. 2. 3. Single. $15,820. $41,756. $47,440. $50,594
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The Earned Income Credit was introduced in 1975 under President Gerald Ford. The Earned Income Credit was made permanent by the Revenue Act of 1978 under President Jimmy Carter. The EIC was expanded as one part of the comprehensive Tax Reform Act of 1986 passed by a Democrat house, a Republican Senate, and signed by President Ronald Reagan on ...
The earned income tax credit, or EITC, is a tax credit aimed at helping low- to moderate-income workers and their families. The maximum credit for taxpayers with three or more qualifying children ...
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