Thursday, January 7, 2010

Finally--EITC Information for Tax Year 2009

I knew the IRS would come through if I waited long enough--the numbers you need to know for Earned Income Tax Credit qualification. I pussyfooted around in my last post because I could not find where the IRS was hiding the exact numbers for 2009, but here they are. If you have no children, and are filing single, you must make less than $13,440 in earned income ($18,440 if married and filing jointly). But if you have one "qualifying" child (see the IRS webpage), that figure jumps to $35,463 for singles (and $40,463 for married couples filing jointly). There is also a temporary increase in the EITC for tax years 2009 and 2010 because of the ARRA (stimulus act).

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