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What Credit is Available for Taxes Paid to Another State? Form

What Credit is Available for Taxes Paid to Another State? Form

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all right for this video i wanted to talk about the massachusetts earned income tax credit so the federal earned income tax credit is certainly popular most people are familiar with this it is a tax credit that is computed and reported on your form 1040 each year so generally this credit is geared towards individuals that have lower incomes and qualifying children right so if you have dependents the earned income tax credit is designed to give you a little bit of a tax break but it's also available to individuals that have no children if their income is below certain thresholds now what a lot of people don't realize is that many states including massachusetts have their own version of the state tax credit for earned income tax credit okay so you can qualify for both the federal and then when you complete your state tax return you'll get an additional state earned income tax credit so massachusetts one of about 30 has their own credit and it's currently 3

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