Earning Income
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Tax CPE Basics About the Earned Income Credit
The credit is refundable, meaning it creates or increases a tax refund when it exceeds tax liability. In fact, the earned income credit is often provided to families that don’t owe any tax.
Many eligible taxpayers fail to obtain the earned income credit. So those who qualify are urged to obtain assistance from a professional with tax preparer certification. For 2010 tax returns, anyone who earned less than $48,362 from wages or self-employment should determine if they qualify for the EI credit. A married couple with … Continue Reading