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What's New
This Year?
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The Earned Income Tax Credit (EITC or EIC) Gives More People More Money.
The IRS has raised the income limits and the payouts for working families. If you qualify for the EITC you automatically get cash back on your tax return!
| Number
of Children |
Filing Status |
Earned Income
Less Than |
Maximum EIT
Credit |
| 2 or more |
Single or Married filing separately |
$ 37,783 |
$ 4,716 |
| 2 or more |
Married filing jointly |
$ 39,783 |
$ 4,716 |
| 1 |
Single or Married filing separately |
$ 33,241 |
$ 2,853 |
| 1 |
Married filing jointly |
>$ 35,241 |
$ 2,853 |
| 0 |
Single or Married filing separately |
$ 12,590 |
$ 428 |
| 0 |
Married filing jointly |
$ 14,590 |
$ 428 |
IRA Deduction Expanded
If you are married and filing jointly or you are a qualified widow(er) you and your spouse may each be able to deduct up to $5,000 if you’re older than age 50 at the end of the year. The MyEFileTax software will automatically help you take advantage of this tax benefit!
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