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IRS Revises Earned Income Tax Credit (EITC) Notice 797

Jan 14, 2010

The Internal Revenue Service has updated and released its Notice 797, "Possible Federal Tax Refund Due to the Earned Income Tax Credit (EITC)."  The IRS mandates that all employers notify their employees of the updated information.
The American Recovery and Reinvestment Act (ARRA) of 2009 provides a temporary increase in EITC and expands the credit for workers with three or more qualifying children. These changes are temporary and apply only to the 2009 and 2010 tax years.

Below is a summary of the income limits for employees filing their 2009 tax return:
Employees may qualify for the EIC if their earned income and adjusted gross income (AGI) is less than:

• $43,352 ($48,362 married filing jointly) with three or more qualifying children*
• $40,363 ($45,373 married filing jointly) with two qualifying children
• $35,535 ($40,545 married filing jointly) with one qualifying child
• $13,460 ($18,470 married filing jointly) with no qualifying children

IRS Notice 797 ships with Personnel Concepts' Space Saver-1 All-On-One State and Federal Labor Law Poster. Those with subscription update services will be mailed the revised notice. Others may call Customer Service at (800) 333-3795 to order one.

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