Do you know lower-income taxpayers who need a tax break? They may be able to claim an Earned Income Tax Credit (EITC). And if their earned income was higher in 2019 than in 2020, they can use the 2019 amount to calculate the EITC on 2020 returns. The result is a bigger credit. The temporary relief is provided by a law passed last year. The EITC is for those whose earned income didn’t exceed these limits in 2020: $50,954 ($56,844 for married joint filers) with 3 or more eligible children; $47,7440 ($53,330 joint filers) with 2 eligible children; $41,756 ($47,646 joint filers) with 1 eligible child; and $15,820 ($21,710 joint filers) with no children. Learn more: https://bit.ly/3awvCJg Call or visit our website for more information! www.mjscpa.com/
