PPT-The Earned Income Tax Credit: Leaving Money on the Table

Elena Delavega PhD MSW University of Memphis iIMPACT Summit April 7 2022 Learning Objectives   Participants will understand the Earned Income Tax Credits role in reducing poverty . Today households with two children and dual earners working full time at the federal minimum wage of 725 an hour earn 30160 in combined income While that is not enough to provide for a family of four these families LQFRPHVDUH well above the povert y comptrollertexasgovtaxinfoeitc What is the Earned Income Tax Credit EITC EITC is a federal income tax credit that is refunded to quali64257ed taxpayers after their taxes have been paid Even if you dont have to pay any taxes on your income you may sti UNIT IV. Disposable and Discretionary Income. Consumer. - a person or group who buys or uses goods and services to satisfy needs/want. Disposable income-. $ to spend or save after taxes have been paid.. EARNED INCOME TAX CREDIT FOR INDIVIDUALS ONLINE Watch out for common errors! Errors can delay your refund or result in IRS denying your EITC claim. Avoid the following common errors: Claiming a chi A FINANCIAL EMPOWERMENT TOOLKIT FOR WORKERS. Your Money, Your . G. oals. Opening Activity. 2. Money and me: Opening activity. List all of the words, phrases, sayings, songs, or other associations you have with the word. New for Tax Year 2017 . Steve . Asbell. Colorado Department of Revenue. Subtractions From Income. Agricultural asset subtraction. . For beginning farmers. Up to $25,000.. . Certified by the Colorado Agriculture . Earned Income Credit. NTTC Training – TY2018. 2. Residents who are eligible & file for Federal EIC may also apply for a NJ EITC. . Client may have Federal earned income, but no NJ earned income (e.g. – disability, third-party sick pay). Still eligible for NJ EITC . SS8E5. : The student will . explain . personal money management choices in terms of income, spending, credit, saving, and investing.. Explain. : to make understandable, to spell out; recount; report. How . to live within one’s income . Income is received from work and is . limited . Budget is a tool to plan the spending and saving of . income. Reasons and benefits of saving . Uses and costs of credit . To discuss family expenditure. To state the advantages of budgeting. To create a budget. To explore buying on credit. To explore the advantages of saving . To discuss why a home filing system is important. Special thanks to: Brad Martin, Katy Schultz, and Evelyn Mickles for their contributions to this module. . Understand how refundable tax credits impact a taxpayer’s return. Understand the eligibility requirements and required forms for these refundable tax credits:. Welcome & Housekeeping . Introductions. Did everyone sign in?. PRE-Test Evaluation. 2. Agenda. Talk about filing a tax return with the Internal Revenue Service (IRS). Learn about the Earned Income Tax Credit (EITC) and other tax credits. The state earned income tax credit (EITC) assists families and in some states, adults without dependent children, by reducing qualifying taxpayers’ tax liability based on income level, marital status and number of dependent children.. Research Questions. 1. Which statistics matter most in predicting money earned on the PGA Tour?. Make a model for predicting money earned. 2. Has there been an increase in driving distance with the “technological boom”?.