Are the EIC credit lower this year. 600 lower

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Are the EIC credit lower this year. 600 lower

EIC is calculated two ways, based on: (1) earned income (such as wages), and based on (2) Adjusted Gross Income. You then get the lower of the two. And is paid on a "bell curve." That is, it goes up as your income goes up to a certain point, but then comes down again.

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Are the EIC credit lower this year. 600 lower

Most likely your Earned income amount has changed this year. For 2020, the Earned Income Tax Credit ranges from $538 to $6,660. The amount depends on income and number of children.

Are the EIC credit lower this year. 600 lower

EIC is calculated two ways, based on: (1) earned income (such as wages), and based on (2) Adjusted Gross Income. You then get the lower of the two. And is paid on a "bell curve." That is, it goes up as your income goes up to a certain point, but then comes down again.