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Form it 212 Investment Credit Tax Year 2022

It 212 Instructions 2022-2024 Form

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[Music] hi it's the tax geek again with more oversimplified information about your taxes today we ask the question can i qualify for an earned income credit the earned income tax credit is arguably the most important part of the tax law affecting low to moderate income wage earners it can provide needed financial assistance to these taxpayers and their families over 50 billion dollars in earned income credits are distributed to low to moderate income families each year making it the third largest social welfare program in the united states after medicaid and the food stamp program the idea of what would become the earned income credit had its roots in the early 1970s when the idea of a guaranteed national income was proposed in the form of a negative income tax eventually a tax credit to working individuals and families was proposed and the first earned income credit was enacted in 1975. the original maximum credit was just four hundred dollars but as time went on the credit was raise

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