Asked by Bimala Sharma Acharya on May 26, 2024
Verified
The earned income credit is available for taxpayers with children only.
Earned Income Credit
A refundable tax credit for low- to moderate-income working individuals and families, especially those with children.
Taxpayers With Children
Individuals or entities responsible for paying taxes who have children, potentially qualifying for specific tax benefits or deductions.
- Describe the conditions under which the earned income credit is available and how it's adjusted for inflation.
Verified Answer
VR
Victoria RochelleMay 30, 2024
Final Answer :
False
Explanation :
The earned income credit is available to both taxpayers with and without children. However, the credit amount varies depending on whether the taxpayer has qualifying children or not.
Learning Objectives
- Describe the conditions under which the earned income credit is available and how it's adjusted for inflation.