Home > Strictly TAXES! > Earned Income Credit

Earned Income Credit


Earned Income Credit (EIC) January, 2009

There are a few changes that have been made to the qualifications for the Earned Income Credit. This credit helps those taxpayers whose income is under a certain amount (listed below) and typically have dependant children living with them. Some single people may qualify as well.

The following paragraphs explain the changes to the credit for 2008.

The amount of credit increased. The maximum amount of the credit has increased. The most you can get is:

$2,917 if you have one qualifying child,
$4,824 if you have more than one qualifying child, or
$438 if you do not have a qualifying child.

The earned income amount increased. The maximum amount of income you can earn and still get the credit has increased for 2008. You may be able to take the credit if:

You have more than one qualifying child and you earn less than $38,646 ($41,646 if married filing jointly), You have one qualifying child and you earn less than $33,995 ($36,995 if married filing jointly), or You do not have a qualifying child and you earn less than $12,880 ($15,880 if married filing jointly).

The maximum amount of AGI you can have and still get the credit also has increased. You may be able to take the credit if your AGI is less than the amount in the above list that applies to you.

Feel Free to visit our website for more great tips and articles at www.efileflorida.com. If you have a question regarding the Earned Income Credit, call us at 954-583-8534.

Advertisements
Categories: Strictly TAXES!
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: