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The Earned Income Tax Credit: How Does It Work? Unable to load the audio player. playpausemuteunmute Doug Jaggers/WFYI Just shy of one million people in Indiana live below the poverty line. One policy designed to help is the earned income tax credit, or EITC. This past legislative session, Indiana increased its earned income tax credit from 9 percent to 10. But how does it work, and what might it mean for working families? The Basics The earned income tax credit gives low-income people unrestricted cash to spend on whatever they need. To be eligible, you need to earn money through a job hence the name “earned income” but still live close to the poverty line. For example, a single adult without kids would make just shy of $16,000 a year to qualify. Depending on how many kids you have, the baseline income goes up from there, all the way to $57,414 for a married couple with three or more children. ....
Educator, counselor takes over Stamford's Future 5 leadership to help teens go to college ncadvertiser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ncadvertiser.com Daily Mail and Mail on Sunday newspapers.
Hoosier Families Are Already Getting The New Child Tax Credit wbaa.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wbaa.org Daily Mail and Mail on Sunday newspapers.
Credit Justin Hicks / IPB News Some Hoosiers received the first monthly installment of a child tax credit Thursday. It’s a one-year-only program from the American Rescue Plan designed to help families emerge from the pandemic. Families can get an automatic tax credit of at least $3,000 per child. The exact amount depends on their age. Each child under 6 years old merits a $3,600 credit, while families with children aged 6 to 17 will see $3,000 in credits. But it’s not all at once: half is paid monthly from now until December, while the other half comes at tax time. Join the conversation and sign up for the Indiana Two-Way. Text Indiana to 73224. Your comments and questions in response to our weekly text help us find the answers you need on statewide issues. ....
Hoosier Families Are Already Getting The New Child Tax Credit wfyi.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wfyi.org Daily Mail and Mail on Sunday newspapers.