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Earned Income Credit#291624

Tax

Online Book, Online Exam
$45.00
Hardcopy Book, Online Exam
$57.00

Credit
Amount
CPA
4
EA / OTRP
4
Course Author: Paul J. Winn Field of Study (CPA): Taxes Field of Study (EA/OTRP): Federal Tax Law

Course Description

Course publication/revision date:This course was updated on 1/24/2024 (covers the 2023 tax year).

The Earned Income Credit (EIC) is a refundable tax credit that has a significant impact on United States revenue and, in the 2022 tax year, amounted to almost $63 billion claimed by more than 25 million tax filers.

In a recent year, 153.8 million individual federal tax returns were filed, and 19.6 million—12.7% of individual taxpayers—claimed the Earned Income Credit. Based on that percentage, it would not be unexpected that any tax return preparer will prepare the tax returns for many EIC claimants.