The Earned Income Credit has been increased
and expanded to include
families with THREE or more qualifying children for tax years 2009
and 2010. The NEW maximum earned income credit for tax year 2009 for
THREE or more
qualifying children is $5,657 (see chart below).
For more details on the qualifications for
the earned income credit
for tax year 2009,
click here.
|
Number of Qualifying Children |
Earned Income/Adjusted
Gross Income MUST
be Less Than: |
Maximum Earned Income
Credit** |
|
0 |
| $18,440 if
filing status is Married Filing Jointly |
| $13,440 for all
other filing statuses* |
|
$457 |
|
1 |
| $40,463 if
filing status is Married Filing Jointly |
| $35,463 for all
other filing statuses* |
|
$3,043 |
|
2 |
| $45,295 if
filing status is Married Filing Jointly |
| $40,295 for all
other filing statuses* |
|
$5,028 |
|
3 or More |
| $48,279 if
filing status is Married Filing Jointly |
| $43,279 for all
other filing statuses* |
|
$5,657 |
|
*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 $3,100. |
|
|
