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Earned Income Credit (EIC)<= /p>

 

The following paragraphs explain the changes to the credit for 2007.

 

Amount of credit increased.

The maximum amount of t= he credit has increased. The most you can get is:

3D"*"            &n= bsp;            = ;      $2,853 if you have one qualifying child,

3D"*"            &n= bsp;            = ;      $4,716 if you have more than one qualifying child, or

3D"*"            &n= bsp;            = ;      $428 if you do not have= a qualifying child.

 

 

Earned income amount increased.

The maximum amount of income you can earn and still get the credit has increased for 2007. You ma= y be able to take the credit if:

You have more than one qualifying child and you earn less than $37,783 ($39,783= if married filing jointly),

You have one qualifying child and you earn less than $33,241 ($35,241 if married filing jointly), or

You do not have a qualifying child and you earn less than $12,590 ($14,590 if married filing jointly).

 

 

 

 

<= span lang=3DEN style=3D'font-size:12.5pt;mso-ansi-language:EN'>The maximum amoun= t of adjusted gross income (AGI) you can have and still get the credit also has increased.

You may be able to take the credit if your AGI is less than the amount = in the above list that applies to you.

 

Investment income amount increased.

The maximum amount of investment income you can have and still get the credit has increased to $2= ,900 for 2007.