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2008 Earned Income Credit

2008/2009 Tax Rate Guide
2008 Filing Requirements
2008 Tax Deductions
2008 Earned Income Credit
2008 Dependent and Education Guidelines
2008 Miscellaneous Rates
2008 MACRS Recovery Periods

EARNED INCOME CREDIT
Single, Head of Household, and Qualifying Widow(er)Earned Income Ranges to Receive the Maximum EICMaximumEIC AmountMaximum Earnings Before EIC Eliminated
FROMTO
With No Children$5,700$7,200$438$12,880
With One Child$8,550$15,750$2,917$33,995
With Two Children$12,050$15,750$4,824$38,646

Married Filing JointlyEarned Income Ranges to Receive the Maximum EICMaximum EIC AmountMaximum Earnings Before EIC Eliminated
FROMTO
With No Children$5,700$10,200$438$15,880
With One Child$8,550$18,750$2,917$36,995
With Two Children$12,050$18,750$4,824$41,646

*The maximum amount of investment income you can have and still receive EIC has increased to $2,950.

EARNED INCOME CREDIT IN A NUTSHELL
First, you must meet all the rules in this column.Second, you must meet all the rules in one of these colums, whichever applies.Third, you must meet the rule in this colum.
Part A
Rules for Everyone
Part B
Rules if You Have a Qualifying Child
Part C
Rules if You Do Not Have a Qualifying Child
Part D
Figuring and Claiming the EIC
1. Your adjusted gross income (AGI) must be less than $38,646 ($41,646 for married filing joint) if you have more than one qualifying child.

$33,995 ($36,995 for married filing joint) if you have one qualifying child.

$12,880 ($15,880 for married filing joint) if you do not have a qualifying child.

2. You must have a valid social security number.

3. Your filing status cannot be "married filing separate."

4. You must be a U.S. citizen or resident alien all year.

5. You cannot file Form 2555 or Form 2555-EZ (relating to foreign earned income).

6. Your investment income must be $2,950 or less.

7. You must have earned income.
8. Your child must meet the relationship, age, and residency tests.

9. Your qualifying child cannot be used by more than one person to claim the EIC

10. You cannot be a qualifying child of another person.
11. You must be at least 25 but under age 65.

12. You cannot be the dependent of another person.

13. You cannot be a qualifying child of another person.

14. You must have lived in the United States more than half of the year.
15. Your earned income must be less than $38,646 ($41,646 for married filing joint) if you have more than one qualifying child.

$33,995 ($36,995 for married filing joint) if you have one qualifying child.

$12,880 ($15,880 for married filing joint) if you do not have a qualifying child.

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