In 2017, zach is single with no dependents. He is not claimed as a dependent on

Question

In 2017, zach is single with no dependents. He is not claimed as a dependent on another's return. All of his income is from salary and he does not have any for AGI deductions. What is his earned income credit in the following alternative scenarios? 1. Zach is 29 years old and his AGI is $10,000.

EXHIBIT 8-10 2017 Earned Income Credit Table No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount Credit Phase- Out for AGI (or earned Maximum Earned Maximumncome if greater) QualifyingIncome Eligible Credit Over This Phase-Out Credit % | Married taxpayers filing joint returns 7.65% Children for Credit (1) × (2) Amount Percentage(4)+ [(3)/(5)] 0 6,670 510 $13,930 7.65% $20,600 23,930 23,930 23,930 10,000 34 3,400 15.98 45,207 14.040 40 5,616 21.06 50,597 14.040 45 6,318 21.06 53,930 All taxpayers except married taxpayers filing joint returns 0 6,670 7.65% 510 S 8,340 7.65% $15,010 10,000 34 3,400 18,340 15.98 39,617 14,040 40 5,616 18,340 21.06 45.007 14.040 45 6,318 18,340 21.06 48,340

Explanation / Answer

Earned Income Credit (EIC) is a tax credit available to low income earners. In some cases the EIC can be greater than your total income tax bill, providing an income tax refund to families that may have little or no income tax withheld from their paychecks. Use this calculator see if you qualify for the Earned Income Credit, and if so, how much it might be worth to you and your family.

In this case he is single with no qualifying child.

And in this case The Earned Income Credit will be $ 381s per EITC table of 2017.

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