Not exact matches
Tax
filers who qualified for less than $ 300 of the full basic credit ($ 600 for
joint filers) could
get $ 300 ($ 600 for
joint filers) if they had either (1) at least $ 3,000 in earnings, Social Security benefits, and veteran's payments or (2) net income tax liability of at least $ 1 and gross income above specified thresholds.
But more recently, changes to the law made the EITC available to people with no children, and now, singles making up to $ 14,590 and
joint filers with incomes up to $ 20,020 can
get the credit.
The new rule increases the income limits to $ 125,000 for singles and $ 225,000 for
joint filers to
get the full write - off.
We all know federal taxes are poised to rise next year, but one little detail isn't
getting enough publicity: the planned 3.8 % Medicare surtax scheduled to hit single /
joint filers with AGIs over $ 200,000 / $ 250,000 will not apply to qualified payouts from Roth accounts.7
Now it
gets more intriguing: To simplify the tax system and wean more taxpayers from itemizing deductions on Schedule A of their returns, the Trump plan would boost the standard deduction for
joint filers to $ 30,000 (up from the current $ 12,600) and raise it to $ 15,000 for single
filers, instead of $ 6,300 at present.