Business

Earned Income Tax Credit Reduces Taxes for Low- and Moderate-Income Wage Earners

The EITC was implemented as a way to offset the impact of Social Security taxes on low to moderate taxpayers and to provide them with an incentive to work. The credit can be worth up to $6,431 for 2018 and up to $6,577 in 2019 for families with three or more qualifying children. For taxpayers with two qualifying children, the maximum credit this year is $5,828. The maximum credit for one qualifying child is $3,526. […]

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