An “earned income credit table 2021 pdf” is a tabular guide (noun) that provides the amount of tax credit (noun) available to eligible taxpayers based on their earned income (noun) and family size. For instance, according to the 2021 table, a taxpayer with an earned income of $15,000 and one qualifying child may receive a credit of up to $3,618.
The earned income credit is vital because it supplements the income of low- and moderate-income working individuals and families. It helps lift millions out of poverty and reduces the tax burden for those who qualify. A significant development in the history of the earned income credit was its expansion in 1993, which made more families eligible for the credit and increased the maximum credit amount.
