"Earned Income Credit" is applied only to those that make below a certain $$ amount.
Income and adjusted gross income (AGI) must each be less than:
$46,227 ($51,567 married filing jointly) with three or more qualifying children
$43,038 ($48.378 married filing jointly) with two qualifying children
$37,870 ($43,210 married filing jointly) with one qualifying child
$14,340 ($19,680 married filing jointly) with no qualifying children
these 4 qualifiying income levels will get you a "credit", in order, of;
$6,044 with three or more qualifying children
$5,372 with two qualifying children
$3,250 with one qualifying child
$487 with no qualifying children
If you make more than that amount, the "credit" doesn't apply.
The amount of the credit varies depending on your level of income and how many dependents you support. The tax credit can even generate a tax refund larger than the amount of tax paid in through withholding.
For the years 2009 through 2017, the Earned Income Credit is temporarily increased for working families with three or more dependents. Previously the earned income credit maxed out at two dependents. The earned income credit will revert back to maxing out with two dependents starting in the year 2018.
The part I put in bold italics is the part that sticks in my craw.
How in the hell can anyone expect to get more, often double or triple, the amount they payed in taxes back as a refund
for many (not all of course) this is one of the tools that the politicians of a certain odor use to keep their voter base satisfied.
Who pays for these "refunds"??
Those of us who get no refund, that's who.
Please don't take this the wrong way, folks, I'm aiming my comments way over y'all's heads, their aimed at the folks that work the system for a living.
Many "taxpayers" do just that.
They suck up welfare, gov't sponsored child care, disability, every single gov't benny they can get, and this is one of the things the Progressives include in the 'bundle' for them.
You guys are hard working folks that deserve whatever you get, but the overwhelming majority of the folks I described don't fall in that category, yet they get much, much more "back" in their "refund" than y'all do.