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Understanding the Earned Income Tax Credit

Monday, March 26, 2018   (0 Comments)
Posted by: Associate MDA
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Understanding the Earned Income Tax Credit

March, 2018 | AmericaSaves

The Earned Income Tax Credit (EITC) is a refundable federal income tax credit for low- and moderate-income working households. Each year, about 26 million people received the Earned Income Tax Credit (EITC), averaging over $2,400. Yet the U.S. Internal Revenue Service (IRS) estimates that a whopping 20 percent of taxpayers who are eligible for the Earned Income Tax Credit fail to claim it, leaving money on the table that could mean the difference between getting ahead or staying in the red.

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