Statements (52)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:administeredBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:alsoKnownAs |
gptkb:EITC
|
| gptkbp:appliesTo |
gptkb:United_States
|
| gptkbp:benefit |
may result in tax refund
reduces tax liability |
| gptkbp:claimedBy |
gptkb:Form_1040
gptkb:Form_1040-NR gptkb:Form_1040-SR millions of U.S. taxpayers annually |
| gptkbp:eligibility |
nonresident aliens
U.S. citizenship or resident alien status earned income income below a certain threshold investment income below a certain threshold not filing as married filing separately taxpayers filing as married filing separately taxpayers with excessive investment income taxpayers without a valid Social Security number valid Social Security number |
| gptkbp:enactedBy |
gptkb:United_States_Congress
|
| gptkbp:establishedIn |
1975
|
| https://www.w3.org/2000/01/rdf-schema#label |
Earned Income Credit
|
| gptkbp:impact |
encourages work
provides financial support to low-income families reduces poverty |
| gptkbp:maximumLoanAmount |
varies by tax year and number of qualifying children
|
| gptkbp:phasedOutIn |
credit amount decreases as income increases
|
| gptkbp:purpose |
reduce tax burden for low- to moderate-income workers
|
| gptkbp:refundable |
yes
|
| gptkbp:relatedTo |
gptkb:Additional_Child_Tax_Credit
gptkb:Child_Tax_Credit gptkb:American_Opportunity_Tax_Credit |
| gptkbp:requiresSchedule |
gptkb:Schedule_EIC
|
| gptkbp:statutoryReference |
gptkb:Internal_Revenue_Code_Section_32
|
| gptkbp:subject |
gptkb:IRS_audit
income limits age requirements for childless workers filing status requirements qualifying child rules recapture if claimed in error rules for clergy rules for members of the clergy rules for military personnel rules for separated spouses rules for taxpayers with disabilities |
| gptkbp:targetAudience |
families with children
some childless workers working individuals and families |
| gptkbp:updatedAnnuallyBy |
gptkb:IRS
|
| gptkbp:bfsParent |
gptkb:IRS_Form_8862
|
| gptkbp:bfsLayer |
5
|