contestada

ms. romano is a single mom with three children who live at home. she earned less than $40,000 in 2020. what is the maximum amount of earned income tax credit that she may qualify for?

Respuesta :

The highest earned income tax deduction for families with three or more children in 2020 is $6,431, so Ms. Romano qualify for this much amount.

The total credit amount for households with two children enrolled is $5,716 whereas the highest credit amount for households with only one eligible child is $3,461. The maximum income tax credit for individuals with no children is dramatically lower, at just $519.

However, the following requirements must be fulfilled if a single mother has three or more kids:

Income<$49,194

Nelson is qualifying for an income tax credit because her salary is under $49,000. Given that Nelson has 3 kids, the maximum gross income tax credit for that she is qualified is $6,431

Income tax is a tax which is imposed on the earning of a person. Usually income tax is paid by only those on whom it has been imposed.

Learn more about income tax here:

https://brainly.com/question/17075354

#SPJ4