General Explanations of the Administrations Fiscal Year 2010 Revenue Proposals

By:

Department of the Treasury

Format:

Paperback / softback

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Description

In 2009 and 2010, individual taxpayers are eligible for a refundable tax credit of 6.2 percent of earned income up to a maximum credit of $400 ($800 for joint filers). Thus, workers receive a credit on the first $8,065 of earned income ($16,130 for joint filers). The credit phases out at a rate of 2 percent for taxpayers with modified adjusted gross income in excess of $75,000 ($150,000 for joint filers). Dependent filers are not eligible for the credit. Neither the maximum credit amount nor the beginning of the phase-out range is indexed for inflation.

Release date NZ

January 3rd, 2015

Author

Department of the Treasury

Audience

General (US: Trade)

Pages

138

Dimensions

216x280x8

ISBN-13

9781503373396

Product ID

37706683

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