The Earned Income Tax Credit (Eitc): Administrative And Compliance Challenges

Description: Please refer to the section BELOW (and NOT ABOVE) this line for the product details - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Title:The Earned Income Tax Credit (Eitc): Administrative And Compliance ChallengesISBN13:9781507737095ISBN10:1507737092Author:Congressional Research Service (Author)Description:(This is a RePrint) - The Earned Income Tax Credit (Eitc) Is A Refundable Tax Credit Available To Eligible Workers Earning Relatively Low Wages Since The Credit Is Refundable, An Eitc Recipient Need Not Owe Taxes To Receive The Benefit Hence, Many Low-Income Workers, Especially Those With Children, Can Receive Significant Financial Assistance From This Tax Provision Studies Indicate That A Relatively High Proportion Of Eitc Payments Are Issued Incorrectly The Irs Estimates That In Fy2013, 22% To 26% Of Eitc Payments-Between $13 3 Billion And $15 6 Billion-Were Issued Improperly These Improper Payments Can Be Overpayments Or Underpayments The Irs's Most Recent Study (Released In 2014) Of The Factors That Lead To Eitc Overclaims-The Difference Between The Amount Of Eitc Claimed By The Taxpayer On His Or Her Return And The Amount The Taxpayer Should Have Claimed-Concluded That There Were Three Major Reasons That Tax Filers Claimed The Wrong Amount Of The Credit: Binding:Paperback, PaperbackPublisher:Createspace Independent Publishing PlatformPublication Date:2015-01-22Weight:0.21 lbsDimensions:0.06'' H x 11.02'' L x 8.5'' WNumber of Pages:30Language:English

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Location: USA

End Time: 2024-12-04T12:30:34.000Z

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