An expanded Earned Income Tax Credit (EITC) means larger families will qualify for a larger credit, offering greater relief for people who struggled through difficult financial times last year, the Internal Revenue Service said today.
Here is 2009 Publication 596 – Earned Income Credit. The 2009 EIC Table begins on page 46 of the document. You can read it online here or optionally download it to your computer at the bottom of the page. Be sure to read through some of the new Earned Income Credit changes before going straight to the 2009 EIC chart. This is the 2010 EIC chart for filing your 2009 taxes.
The IRS estimates that 70 percent of all taxpayers (about 98 million taxpayers) will be eligible to file taxes online for free this year!
Only 4.8 million tax returns were filed through Free File last year, an increase of 24 percent over the previous year’s total of nearly 3.9 million returns, but still way below the number of people who are eligible to file taxes online for free!
You may claim the EIC if you answer “Yes” to all the following questions.
New for tax year 2009, is the additional EITC and income thresholds for a Third Qualifying Child and Changes to the Uniform Definition of a Child The change in the Uniform Definition of a Child adds two new rules to the definition of a “qualifying child.”
Here are the changes to the Earned Income Credit for 2008. The maximum amount of the Earned Income Credit (EIC) 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… Read More »
The IRS, the Department of Treasury and other non-government partners are kicking off EITC (Earned Income Credit) Awareness to promote the refundable tax credit for low-wage workers with children. There is special day held once a year to promote this important tax initiative to help families earning below a certain income limit and are eligible… Read More »