Which, if any, of the following correctly describes the earned income credit?
A)Would be available regardless of the amount of the taxpayer's adjusted gross income.
B)Not available to a surviving spouse.
C)A taxpayer must have a qualifying child to take advantage of the credit.
D)Is a refundable credit.
E)None of the above.

Question

Quizplus · Accepted Answer

The earned income credit is a refundable tax credit which is available to taxpayers who have earned income from an employer or self-employment. It is intended to provide assistance to low to moderate-income households, particularly those with children. To be eligible for the credit, a taxpayer must have earned income, and the amount of the credit is based on income and family size. The credit is fully refundable, which means that if the amount of the credit exceeds the taxpayer's tax liability, the excess is paid to the taxpayer as a refund.

Which, If Any, of the Following Correctly Describes the Earned