Earned income tax credit definition

Earned income tax credit means the credit against federal personal income tax
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Earned income tax credit means the credit against Federal personal income tax liability under the Internal Revenue Code of 1986, 26 U.S.C. § 32, or any successor section, the advanced payment of the earned income tax credit or rebate, to an employee under the Internal Revenue Code, 26 U.S.C. § 3507, or any successor section and any refund received as a result of the earned income tax credit or rebate, as well as any refundable State earned income tax credit or rebate.
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Earned income tax credit means the credit against federal personal income tax liability under the Internal Revenue Code of 1986, 26 U.S.C. § 32, or any successor section, the advanced payment of the earned income tax credit to an employee under the Internal Revenue Code, 26
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Examples of Earned income tax credit in a sentence

  • Earned income tax credit (EITC) refund payments received on or after January 1, 1991 (26 U.S.C. 32(j)), are excluded from annual income [24 CFR 5.609(c)(17)].

  • Earned income tax credit The provision extends certain EITC provisions adopted by EGTRRA for two years (through 2012).

  • Earned income tax credit: An earned income tax credit is granted against the central government income tax.

  • Amendments relating to the Protecting Americans from Tax Hikes (“PATH”) Act of 2015 (Division Q of the Consolidated Appropriations Act, 2016) Earned income tax credit permanent rules (Act sec.

  • Earned income tax credit (EITC) refund payments received on or after January 1, 1991 [26U.S.C. 32(j)], are excluded from annual income [24 CFR 5.609(c)(17)].

  • Earned income tax credit payments received either as a lump sum or as advance payments of EITC received as part of the paycheck or as a reduction in taxes that would have been paid at the end of the year.

  • Earned income tax credit payments received either as a lump sum or payments under section 3507 of the Internal Revenue Code of 1986 (relating to advance payment of earned income tax credits received as part of the paycheck or as a reduction in taxes that otherwise would have been paid at the end of the year).

  • Present Law Earned income tax credit Low- and moderate-income workers may be eligible for the refundable earned income tax credit (“EITC”).

  • Earned income tax credit redistribute in favour of the poor while preserving incentives to work on the supply side, and, unlike minimum wages, they do not create a scarcity of jobs.• Volatility: A flexible economy typically exhibits more macroeconomic volatility than a rigid one.

  • Earned income tax credit is considered in the OECD model as an “in-work benefit” [IW].


More Definitions of Earned income tax credit

Earned income tax credit. ("EITC") means an income tax credit for low-income working individuals and families. In Iowa both the federal and state EITC are refundable. This means that any amount of the credit that
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Earned income tax credit means the federal basic earned income credit
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Earned income tax credit means the credit against federal personal income tax liability under § 32 of the Internal Revenue Code of 1986,
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Earned income tax credit means the credit against federal personal income tax liability under § 32 of the Internal Revenue Code of 1986, 26 U.S.C. § 32, or any successor section, the advanced payment of the earned income tax credit to an employee under § 3507 of the code, 26 U.S.C. § 3507, or any successor section and any refund received as a result of the
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Earned income tax credit. A tax credit for employed individuals who have earned income under specified limits as outlined in the Department of the Treasury, Internal Revenue Service, Publication 596.
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Related to Earned income tax credit

  • Input Tax Credit means the credit of input tax;

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Tax Credits means any and all (a) investment tax credits, (b) production tax credits and (c) similar tax credits or grants under federal, state or local law relating to the construction, ownership or production of energy from the System.

  • Unpaid income tax means income tax due but not paid by the date the income tax is required to be paid under applicable law.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • UK Tax Deduction means a deduction or withholding for, or on account of, Tax imposed by the United Kingdom from a payment under a Loan Document, other than a FATCA Deduction.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • working tax credit means a working tax credit under section 10 of the Tax Credits Act 2002;

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Tax Deduction means a deduction or withholding for or on account of Tax from a payment under a Finance Document.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Non-Income Tax means any Tax other than an Income Tax.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • Qualifying Income Gross income that is described in Section 856(c)(2) or 856(c)(3) of the Code.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Tax Refund means a refund of Taxes previously paid and any overpayment interest within the meaning of Section 6611 of the Code or any similar provision under applicable Tax Law (whether paid by way of a refund or credited against any liability for related Taxes).

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Transaction Deductions means with respect to the Company, the sum of all items of loss or deduction for U.S. federal, state and local income tax purposes, resulting from or attributable to (a) the Option Deductions, (b) bonuses paid or accrued as of the Closing Date and (c) the payment of legal, accounting, investment banking and other fees and expenses of the Company incurred in connection with the transactions contemplated hereby including, without limitation, the Transaction Expenses.

  • Consolidated Income Tax Expense means, with respect to any Person for any period, the provision for federal, state, local and foreign income taxes of such Person and its Restricted Subsidiaries for such period as determined on a consolidated basis in accordance with GAAP.

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • Income Tax Return means any Tax Return relating to Income Taxes.