The Greenhornet Blog- Posts Tagged with Eitc

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Earned Income Tax Credit

Let’s talk about Earned Income Tax Credit (EITC) for a few moments, shall we?  The EITC has been around for some 30 years, with its roots beginning back in the first Reagan term.  IRS Pub 596 has a wealth of information on the subject (may be even a little more than you really wanted to know!).  This is the most common “refundable” credit, meaning the taxpayer may get a refund regardless of their tax liability.  To qualify, the first thing is the taxpayer must have “earned” income.  We call that “sweat-of-the-brow” income – this is income that you WORKED for!  

Posted To: The Greenhornet Blog
By: Lauryn on 2/8/2013 12:34:04 PM

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