General Explanations of the Administrations Fiscal Year 2010 Revenue Proposals

By U.S. Department of the Treasury

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.

• Format: Paperback
• Language: English
• ISBN: 1503373398
• ISBN13: 9781503373396
• Release Date: January 2015
• Publisher: Createspace Independent Publishing Platform
• Length: 138 Pages
• Weight: 0.74 lbs.
• Dimensions: 0.3" x 8.5" x 11.0"