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 State Earned Income Tax Credit 2023

N 139 2023-2025 Form

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hello and welcome to this session in which we will discuss the earned income credit earned income credit also known as the EIC which stands for earned income credit is a refundable tax credit and we spoke about refundable tax credit in the prior session what does that mean it's an important concept it means that you can get money in addition to wiping out your taxes so if you have a tax credit and it's non-refundable it will help you reduce your taxes it might help you reduce your taxes down to zero if it's an unrefundable if it's a refundable credit it will reduce your taxes to zero and anything in Access the government will send you a check so it's a great way to get some money from the government now it's designed to benefit low to moderate income working individuals remember what we talked about in the prior session we said credits are designed to encourage certain Behavior so if the government wants you to work they want to encourage

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