2009 Earned Income Tax Credit

IRS expands Earned Income Tax Credit for 2009, January 29, 2010, Milwaukee Journal Sentinel: “There’s a bright spot in the nation’s dismal economic climate this tax season: The Internal Revenue Service has expanded the Earned Income Tax Credit for 2009, meaning more families are eligible for a larger return from the federal government. The EITC now includes low-income working families with three or more children, and the top income limit has increased to $48,279 from $41,646 in 2008. Changes also have been made to the definition of a qualifying child. The IRS estimates more than 5 million additional families will be eligible for the expanded credit this year. The EITC gave back $50 billion to 24 million taxpayers across the country in 2008, said David Williams, director of electronic tax administration and refundable credits for the IRS. ‘EITC is one of the largest and most effective anti-poverty programs in government. It lifted millions of people out of poverty last year,’ Williams said…”