CIL thing

Front

What is a tax credit?

Back

A dollar-for-dollar reduction of the tax

Front

What is a refundable tax credit?

Back

A credit that can result in a refund even if your tax is zero.

Front

Who is eligible for the earned income credit?

Back

Certain people who work and meet income requirements.

Front

What factors determine the amount of the earned income credit?

Back

Adjusted gross income, earned income, filing status, and number of qualifying children

Front

If adjusted gross income is the same, who receives the highest earned income credit? Taxpayers with no qualifying children, Taxpayers with one qualifying child, Taxpayers with more than one qualifying child, It's the same for all taxpayers

Back

Taxpayers with more than one qualifying child

Front

True or False: The earned income credit can reduce the amount of tax owed

Back

True

Front

True or False: Eligible taxpayers can receive the earned income credit even if their tax is zero

Back

True

Front

What is the purpose of the earned income credit?

Back

To provide financial assistance to certain working individuals and families

Front

Is the earned income credit a refundable or non-refundable tax credit?

Back

Refundable

Front

What is the general limit on earned income and adjusted gross income to qualify for the earned income credit?

Back

There is a specified limit.