Sentences with phrase «credit for joint filers»

And the phase out of the credit for joint filers starts at higher income levels in 2010, allowing more of them to claim the credit.

Not exact matches

2017's maximum Earned Income Tax Credit for singles, heads of households, and joint filers is $ 510, if the filer has no children (Table 9).

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.

[2] ATRA also temporarily extended the higher earned income tax credit phaseout threshold for joint filers.

The sum of the basic and child credits was reduced by 5 percent of the tax filer's adjusted gross income over $ 75,000 ($ 150,000 for joint filers).

Most tax filers received a basic credit of $ 600 — or $ 1,200 for joint filers — up to their income tax liability before subtraction of child and earned income credits.

In higher tax brackets, the earned income credit won't apply, anyway, but some of those other deductions could be highly beneficial for joint married filers as deductions play a role in reducing your overall annual earnings, also known as your adjusted gross income, or AGI.

SB 1182 would specifically increase the renter's tax credit for single filers from $ 60 to $ 120 and from $ 120 to $ 240 for joint filers.

For 2018, the adjusted gross income amount that results in the credit phasing out begins at $ 200,000 for single, head of household, or married filing separate filers and $ 400,000 for joint fileFor 2018, the adjusted gross income amount that results in the credit phasing out begins at $ 200,000 for single, head of household, or married filing separate filers and $ 400,000 for joint filefor single, head of household, or married filing separate filers and $ 400,000 for joint filefor joint filers.

For 2017, single filers with an AGI of $ 31,000 or more, head of household filers with AGI of $ 46,500 or more and joint filers with an AGI of $ 62,000 or more are ineligible to claim the credit.

In the 2017 tax year, the maximum credit available to a single taxpayer is $ 1,000 and for joint filers, it increases to $ 2,000.

For 2009 and 2010, Congress gave workers a credit of 6.2 percent of their earned income, capped at $ 400 for single filers and $ 800 for joint fileFor 2009 and 2010, Congress gave workers a credit of 6.2 percent of their earned income, capped at $ 400 for single filers and $ 800 for joint filefor single filers and $ 800 for joint filefor joint filers.

The tax credit allows you to decrease your liability by up to $ 1,000, or $ 2,000 for joint filers.

The phaseout for the new credit begins at $ 200,000 for single filers and $ 400,000 for joint filers.

With singles earning up to $ 30,000 and joint filers earning up to $ 60,000 being eligible for credits of between 10 percent and 50 percent on the first $ 2,000 to $ 4,000 saved, the Saver's Credit is icing on the cake for smart planners.

Net contributions by a taxpayer who does not claim the Minnesota tax credit for contributions are deductible for Minnesota income tax purposes each year up to $ 3,000 for joint income tax return filers and $ 1,500 for all other filers.

They may claim a tax credit up to 50 % of their retirement plan contribution with a maximum of $ 2,000 per single filer, $ 4,000 for joint filers.

Those with MAGI between $ 125,000 and $ 145,000 — or $ 225,000 and $ 245,000 for joint filers — are eligible for a reduced credit.

The full credit will be available to taxpayers with modified adjusted gross incomes up to $ 125,000, or $ 225,000 for joint filers.

The increase in income level is a huge advantage of the extended tax credit ($ 125,000 for single filers and $ 225,000 for joint filers).

Tax credit begins to phase out for modified adjusted gross income (MAGI) over $ 125,000 (or $ 225,000 for joint filers).