General Explanations of the Administrations Fiscal Year 2010 Revenue Proposals (Paperback) (ISBN-13: 9781503373396)

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.

Author: Department of the Treasury
ISBN-10: 1503373398
ISBN-13: 9781503373396
Publisher: Createspace Independent Publishing Platform
Language: English
Published: 01/03/2015
Pages: 138
Format: Paperback
Weight: 0.74lbs
Size: 11.02h x 8.50w x 0.30d