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Sunday, March 30, 2025

What is the tax break for people with no children?


 Question: What is the tax break for people with no children?


Answer: The American Rescue Plan Act of 2021 expanded the EITC available to workers without dependent children by increasing the credit phase-in and phase-out rates from 7.65 percent to 15.3 percent, increasing the maximum credit from $543 to $1,502, and increasing the income where the credit begins to phase out from $8,880 ...(Jan 31, 2025).

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