Frank DiPaola, EA

Frank DiPaola, EA

Tax Accountant
 Tax Form Processing LLC 
FOR THE TAXPAYERSM
www.TaxFormProcessing.com
2400 N Forsyth Road Suite 101
Orlando, FL 32807-6445
What's NEW for Tax Year 2007?
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Earned Income Credit Amounts for Tax Year 2007

 
Number of Children Earned Income/Adjusted Gross Income MUST be Less Than: Maximum Earned Income Credit**
0
$14,590 if filing status is Married Filing Jointly
$12,590 for all other filing statuses*
$428
1
$35,241 if filing status is Married Filing Jointly
$33,241 for all other filing statuses*
$2,853
2 or More
$39,783 if filing status is Married Filing Jointly
$37,783 for all other filing statuses*
$4,716

*Excludes "Married Filing SEPARATELY." Taxpayer's using this filing status CANNOT claim the Earned Income Credit.

**You MUST use the IRS tables to determine the exact amount of earned income credit.

The Earned Income Credit CANNOT be claimed if investment income exceeds $2,900.


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