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Tempe Earned Income
Tax Credit (EITC)
and Asset Development Initiative |
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Earn It! Claim It! Save It! |
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Federal Earned Income Tax Credit Income
Eligibility Guidelines and Maximum Credit Amounts for Tax Year 2007
TAX YEAR 2007 TAX CREDITS
EARNED INCOME TAX CREDIT
Maximum income to qualify for EITC
for 2007 is:
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Married
Joint |
Single or
Head of Household |
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No Children |
$14,590 |
$12,590 |
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One qualifying child |
$35,241 |
$33,241 |
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Two or more
qualifying children |
$39,783 |
$37,783 |
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Maximum income to qualify for EITC for 2006 was:
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Married
Joint |
Single or
Head of Household |
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No children |
$14,120 |
$12,120 |
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One qualifying child |
$34,001 |
$32,001 |
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Two or more qualifying
children |
$38,348 |
$36,348 |
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Investment income
must be less than $2,900.
The maximum was $2,800 for 2006. |
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For tax year 2007,
the maximum EITC amount is: |
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For tax year 2006, the
maximum EITC amount was: |
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No children |
$428 |
No children
$412 |
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One qualifying child |
$2,853 |
One qualifying child
$2,747 |
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Two or more
qualifying children |
$4,716 |
Two or more qualifying
children
$4,536 |
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ADDITIONAL CHILD TAX
CREDIT |
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Maximum credit per
child 2007: $1,000 |
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Earning threshold
2007: $11,750 |
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Maximum credit per
child 2006: $1,000 |
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Earning threshold 2006:
$11,300 |
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OTHER STUFF |
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The standard
deduction amounts for 2007 are: |
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Single
$5,350 |
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Married filing
separately $5,350 |
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Married filing
jointly $10,700 |
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Qualifying widow(er)
$10,700 |
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Head of household
$7,850 |
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Married filing
separately $5,150 |
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The standard deduction
amounts for 2006 were |
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Married filing jointly
$10,300 |
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Qualifying widow(er)
$10,300 |
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Single
$5,150 |
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Head of household
$7,550 |
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Exemption (dependent
and personal) 2007 is $3,400 |
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Exemption (dependent
and personal) 2006 was $3,300 |
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