Category: Earned Income Tax Credit (EITC)

Would a Higher Earned Income Tax Credit Help the Poor?

April 23, 2023
CaliforniaEarned Income Tax Credit (EITC)Milton FriedmanNorthern CaliforniaOpinionRegional & State NewsSouthern CaliforniaState NewsUSViewpoints
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Commentary The California Legislature is considering expanding the Earned Income Tax Credit (EITC), a type of negative income tax. If you earn below a certain level of income, instead of paying income tax, you get a cash check or deposit to your bank account. CalMatters reported: “Democratic Assemblymembers Mike Gipson of Gardena and Miguel Santiago of Los Angeles recently…

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Six Major Changes Made by IRS for 2023 Tax Season

March 10, 2023
BrightBusiness & Marketschild tax creditClean Energy Tax CreditsEarned Income Tax Credit (EITC)economyEstate TaxIRS - U.S. Internal Revenue ServiceMarginal Tax Ratespersonal financePolicies & Impactsstandard deductiontaxtax changesTax Deductiontax filingtax year 2022USWealth Management
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Tax year 2022 saw multiple changes made by the Internal Revenue Service to tax limits, credits, standard deductions, and so on. With the deadline for filing returns fast approaching, here is a list of some of these changes. Marginal Tax Rates The IRS slightly changed tax brackets for the 2022 tax year. The top tax…

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