A tool that fits easily into your workflow - CIOReview
freetaxusa.com has been visited by 100K+ users in the past month
a reliable and efficient company - Smart Asset
Results from the WOW.Com Content Network
Working Tax Credit. Working Tax Credit ( WTC) is a state benefit in the United Kingdom made to people who work and have a low income. It was introduced in April 2003 and is a means-tested benefit. Despite their name, tax credits are not to be confused with tax credits linked to a person's tax bill, because they are used to top-up wages.
The credit was given at a rate of 6.2 percent of earned income up to a maximum of $400 for individuals or $800 for married taxpayers. Making Work Pay could be claimed by single filers making between $8,100 per year and $95,000 per year. Joint filers in the range of $8,100 and $190,000 could claim it annually.
Money portal. v. t. e. A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state.  It may also be a credit granted in recognition of taxes already paid or a form of state "discount" applied in certain cases.
Schedule L (until 2010) was used to figure an increased standard deduction in certain cases.  Schedule M (2009 and 2010) was used to claim the Making Work Pay tax credit (6.2% earned income credit, up to $400).  Schedule R is used to calculate the Credit for the Elderly or the Disabled.
The United States federal earned income tax credit or earned income credit ( EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children. Low income adults with no children are eligible.
A child tax credit ( CTC) is a tax credit for parents with dependent children given by various countries. The credit is often linked to the number of dependent children a taxpayer has and sometimes the taxpayer's income level. For example, in the United States, only families making less than $400,000 per year may claim the full CTC.
The R&D Tax Credit was originally introduced in the Economic Recovery Tax Act of 1981 sponsored by U.S. Representative Jack Kemp and U.S. Senator William Roth. Since the credit's original expiration date of December 31, 1985, the credit has expired eight times and has been extended fifteen times. The last extension expired on December 31, 2014.