Top Five Answers to Earned Income Tax Credit Questions

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One of the most benefcial tax credits you can obtain is the Earned Income Tax Credit. This is why the IRS has taken steps to educate the taxpaying public about this important beneft that can put up to $5,666 into your pocket. If you have questions about the Earned Income Tax Credit, you will most likely fnd the answers here:

The Earned Income Tax Credit is the tax credit for taxpayers who do not earn high incomes. It enables you to earn a refund or lower your taxes. Nationwide last year, over 26 million eligible taxpayers received nearly $59 billion total in Earned Income Tax Credit. The government through the American Recovery and Reinvestment Act 2009 (ARRA) has allowed families with three or more children to claim the Earned Income Tax Credit and increased its maximum beneft for tax years 2009 and 2010. In addition, the Tax Relief and Job Creation Act of 2010 extended these changes through 2012. You may qualify for the Earned Income Tax credit even if you do not earn enough to be obligated to fle a tax return. But you must fle a tax return and apply for the Credit as it is not given automatically.

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