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Earned Income Tax Credit Earned Income Tax Credit

Earned Income Tax Credit - PowerPoint Presentation

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Uploaded On 2023-10-31

Earned Income Tax Credit - PPT Presentation

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 ID: 1027582

income tax eitc earned tax income earned eitc states children poverty dependent million families credit state level offer 2017

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1. Earned Income Tax CreditThe 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.9.4 millionpeople in working families were raised above the poverty line by the EITC in 2017.

2. Earned Income Tax CreditHealth BenefitsAssociated with decreased low-birthweight birthsIncreased breastfeeding ratesImproved maternal and child healthEconomic Benefits Helped lift 9.4 million families out of poverty in 2017, including more than 5 million childrenReduced the severity of poverty for an additional 18.7 million familiesEncourages single mothers to enter the work force

3. Earned Income Tax Credit 29 states and D.C. have enacted a state-level EITC law 3 states and D.C. offer ETIC to workers without dependent children New York and D.C. also offer EITC to non-custodial parents Center on Budget and Policy Priorities (CBPP)