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What may be the rate? At the rate or rates enacted by Central Act terrible Assessment Tax year. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable for the tax payer.

If a married couple wishes to obtain the tax benefits among the EIC, need to file their taxes collectively. Separated couples cannot both claim their children for the EIC, so they will ought to decide may claim associated with them transfer pricing . You can claim the earned income credit on any 1040 tax variation.

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