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Tax Credit Consulting: Earned Income Peoria AZ

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.

Mr. Jeffrey D. Carter (RFC®), CSA, LUTCF
(623) 933-9500
10451 W. Palmeras Drive
Sun City, AZ
Company
Smart Financial Strategies, Inc.
Qualifications
Years of Experience: 22
Membership
IARFC, SCSA, NAIFA
Services
Invoice, Estate Planning, Trustee Service, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Charitable Foundations, Asset Protection, Compensation Plans

Data Provided by:
H&R Block
(623) 825-2871
20255 N LAKE PLEASANT hwy
PEORIA, AZ

Data Provided by:
Liberty Tax Service
(866) 871-1040
8940 W Bell Rd # 102
Peoria, AZ

Data Provided by:
Sun City Home Tax Svc
(623) 974-6036
14656 N Del Webb Blvd
Sun City, AZ

Data Provided by:
Accurate-Leigh-Done
(623) 561-6172
10327 W. Coggins Dr. #2
Sun City, AZ
 
Liberty Tax Service
(623) 792-1140
8940 W. Bell Rd. Ste B102
Peoria, AZ
 
H&R Block
(623) 334-9866
7549 W CACTUS rd STE 110
PEORIA, AZ

Data Provided by:
Liberty Tax Service
(866) 871-1040
8411 W Thunderbird Rd
Peoria, AZ

Data Provided by:
H&R Block
(623) 451-0671
28455 N VISTANCIA BLVD
PEORIA, AZ

Data Provided by:
H&R Block
(623) 933-6912
10753 GRAND Ave
SUN CITY, AZ

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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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