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Tax Credit Consulting: Earned Income Martinsburg WV

The Earned Income Tax Credit was first enacted into law in 1975. The Earned Income Tax Credit (EITC), or as it is sometimes called The Earned Income Credit (EIC) was designed as a tool to encourage low income workers to continue to work rather than lose hope and depend entirely on welfare. When the credit exceeded the amount of taxes owed it could result in a considerable refund.

Cindy S. Everly (RFC®), CPA
(301) 582-0765
10709 Timothy Drive
Williamsport, MD
Company
Cindy S. Everly, CPA/Financial Planner
Qualifications
Education: BA
Years of Experience: 15
Membership
IARFC, AICPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Business Coach, Compensation Plans

Data Provided by:
Liberty Tax Service
(866) 871-1040
411 W King St
Martinsburg, WV

Data Provided by:
H&R Block
(304) 229-0317
372 Middleway Pike Ste E
Inwood, WV

Data Provided by:
H&R Block
(304) 725-4603
71 JEFFERSON CROSSING WAY STE E
CHARLES TOWN, WV

Data Provided by:
H&R Block
(301) 432-5880
702 CHASE SIX BLVD
BOONSBORO, MD

Data Provided by:
David P. Pankiw (RFC®), MSFS
(301) 790-3599
240 S Potomac St Ste 204
Hagerstown, MD
Company
CUBIC Financial Advisors
Qualifications
Education: BS
Years of Experience: 25
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
H&R Block
(304) 267-8261
307 W KING ST
MARTINSBURG, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
324 W Washington St
Charles Town, WV

Data Provided by:
H&R Block
(304) 258-8777
318 N WASHINGTON ST
BERKELEY SPRINGS, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
53 Eastern Blvd N
Hagerstown, MD

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Tax Credit Consulting: Earned Income

Earned Income Tax Credit

The Earned Income Tax Credit is one of the major poverty fighting tools of the United States Government. It is designed to help low income families and encourage them to work rather than depend solely on welfare.

The Earned Income Tax Credit was first enacted into law in 1975. The Earned Income Tax Credit (EITC), or as it is sometimes called The Earned Income Credit (EIC) was designed as a tool to encourage low income workers to continue to work rather than lose hope and depend entirely on welfare. When the credit exceeded the amount of taxes owed it could result in a considerable refund. In 2004, over 21 million taxpayers received around 36 billion dollars in refunds because of the Earned Income Tax Credit.

In order to be eligible, the tax payer and his spouse, if filing jointly, and any children claimed as dependents must have a valid social security number. They also must file a tax return, of course, even if the amount of income earned does not obligate them to do so. Earned Income is defined as income that is actually earned through work. It does not include investment earnings or payments received for anything else except actual work.

The Earned Income Tax Credit also has no impact on the eligibility for certain other welfare benefits such as Supplemental Social Security, Food Stamps, or other types of assistance. The credit was responsible for raising the income levels of almost 5 million,  of the 21 million taxpayers who claimed it in 2004,  over the poverty level. Yet, it is estimated that millions of eligible low income tax payers do not claim it despite the efforts of the Government and tax preparations professionals to encourage its use.

The Earned Income Tax Credit receives much bipartisan support in Congress as an effective tool for poverty control. It is argued that a small raise in the percentages of the credits could have a much more positive impact on the plight of low income workers than a major rai...

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