Answered

Which of the following is correct regarding the Earned Income Credit (EIC)?

A. Earned Income Credit (EIC) is a refundable tax credit for workers whose incomes fall below established levels.
B. Earned Income Credit (EIC) is a bonus for workers who work more than a certain number of hours a pay period.
C. Earned Income Credit (EIC) is a refundable tax credit for workers who work overtime.
D. Earned Income Credit (EIC) is a non-refundable tax credit for workers whose incomes fall below established levels.



Answer :

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Final answer:

The Earned Income Credit (EIC) is a refundable tax credit for low-income workers, aiming to make employment more financially rewarding and incentivize work over seeking governmental aid.


Explanation:

The correct option regarding the Earned Income Credit (EIC) is: Earned Income Credit (EIC) is a refundable tax credit for workers whose incomes fall below established levels. This credit aims to make employment more financially rewarding for low-income wage earners and serves as an incentive to work rather than rely on governmental aid. The EIC amount varies based on income, tax-filing status, and the number of children.


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