| General Explanations of the Administrations Fiscal Year 2010 Revenue Proposals Contributor(s): Department of the Treasury (Author) |
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ISBN: 1503373398 ISBN-13: 9781503373396 Publisher: Createspace Independent Publishing Platform OUR PRICE: $16.14 Product Type: Paperback - Other Formats Published: January 2015 |
| Additional Information |
| BISAC Categories: - Political Science | Political Economy - Business & Economics | Taxation - General |
| Physical Information: 0.3" H x 8.5" W x 11.02" (0.74 lbs) 138 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: In 2009 and 2010, individual taxpayers are eligible for a refundable tax credit of 6.2 percent of earned income up to a maximum credit of $400 ($800 for joint filers). Thus, workers receive a credit on the first $8,065 of earned income ($16,130 for joint filers). The credit phases out at a rate of 2 percent for taxpayers with modified adjusted gross income in excess of $75,000 ($150,000 for joint filers). Dependent filers are not eligible for the credit. Neither the maximum credit amount nor the beginning of the phase-out range is indexed for inflation. |