TAX CREDIT

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.” The child must:

Be younger than the person claiming the child
Not have filed a joint return other than to claim a refund
For more information on whether a child qualifies you for the EITC, see Publication 596, Chapter 2, Rules If You Have a Qualifying Child.

Earned Income and adjusted gross income (AGI) must each be less than:

$43,279 (48,279) married filing jointly) with three or more qualifying children
$40,295 ($45,295 married filing jointly) with two qualifying children
$35,463 ($40,463 married filing jointly) with one qualifying child
$13,440 ($18,440 married filing jointly) with no qualifying children
Tax Year 2009 maximum credit:

$5,657 with three or more qualifying children
$5,028 with two qualifying children
$3,043 with one qualifying child
$457 with no qualifying children
Investment income must be $3,100 or less for the year.

The maximum of Advance EITC workers can receive from their employers is $1,826.

http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=0&rf=0&oq=&qt=eitc

How hard was that to go to the IRS website and type in EITC?

tilt - you've upset the point gremlins, but I negated the gremlin for you.

Thank you.  Folks don't like to hear that they NEED TO LEARN TO SEARCH!  And yes, I was yelling on purpose.  I mean, come on already.  Be professional.

The "Maximum EITC" is the highest amount allowed for a low income taxpayer for calendar year 2009.

This answer is absolutely true, and positively worthless.

Great answer, AM, had me ROTFL.

Tilt, that last part comes from an old joke. One beautiful day, two friends took a balloon ride over the countryside. After several hours, they decided that they needed to find out their location so they could call to get picked up. They lowered their balloon enough so they could ask a fellow on the ground a question: "Hey, where are we?" they asked him.

"In a balloon," he replied.

So one friend turns to the other and says, "That guy down there is a lawyer." "How can you tell?" his friend asked.

"Because what he told us was absolutely true and positively worthless."

First question ever, eh?  I'm thinking, someone needs to know how to "optimize" their Schedule C.

That's called tax planning.

Does anyone know what happened on 070453?

Someone's birthday?

I was almost 4 months old and, July 4 – Strikes and riots hit coal mining regions in Poland. 

And:  http://www.baseball-almanac.com/box-scores/boxscore.php?boxid=195307042BRO

Do I win?  Do I, do I, do I????

On 070453 we got lights in our outhouse