Tag: Earned Income Tax Credit
About 11 percent of the children in poor families are living with adults who receive Social Security’s retirement, disability, or supplemental cash benefits. The children are often Black or Hispanic. One out of every four of the families has income below $35,000, and many of the children live with a retired grandparent. If the child…
Single mothers receive three-fourths of the tax refunds the IRS pays out every year through the Earned Income Tax Credit (EITC) for low-income workers. The EITC’s big plus is that it’s fully refundable. In contrast to nonrefundable tax credits that reduce the taxes a worker already owes, the EITC gives refunds even if they don’t…
