The Badly Misnamed Earned Income Tax Credit

earned income tax credit Not one it penny has ever been earned by recipients, yes the Earned Income Tax Credit is the name of it.

And so it’s an abomination to millions of struggling taxpayers who must pay for it, it puts lot of bucks in the pockets of recipients.

One must have a job like most Americans, with an intention to qualify for the arned Income Tax Credit, So in case a worker’s Adjusted Gross Income is less than 4576.

earned income tax credit Recipients also can get an exemption from much withholding in the course of the year in anticipation of the huge refund he/she will likely receive, by taking advantage of the Advanced Earned Income Tax Credit. On the downside, millions of hard working taxpayers of modest means, who are not receiving the Earned Income Tax Credit get hit with a stiff tax bill.

Possible Ten Billion Paid Out Due To Fraud and Mistakes A 2004 report from the Treasury reveals that billions shouldn’t was paid, in the year of the study, The report reveals that possibly 32 the amount percent claimed shouldn’t are claimed stating.

a IRS compliance study of Tax Year 1999 returns estimated that between 9 billion of the on Amazon and identical ebook sites If you’d like to browse the Introduction and Table of Contents visit.

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