FULLY REFUNDABLE TO BOOT!
The earned-income tax credit has become more generous this year as part of the government’s economic recovery efforts.
Although 24 million people received the credit last year, it is still not well understood by most Americans. In fact, the government estimated that one in four taxpayers who qualify for the credit don’t claim it.
The credit is in the form of an additional tax refund for people who work but don’t earn a lot. Last year, nearly 24 million people received $50 billion in benefits. The average credit was just over $2,000.
U.S. increases earned-income tax credit | desmoinesregister.com | The Des Moines Register