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.

Question

Quizplus · Accepted Answer

The earned income credit is a refundable credit, meaning that if the credit exceeds the amount of taxes owed, the taxpayer can receive the excess as a refund. Option A is incorrect because the amount of the credit decreases as adjusted gross income increases. Option B is incorrect because a surviving spouse can qualify for the earned income credit. Option C is partially correct, as the taxpayer must have a qualifying child to claim the maximum credit, but there is also a smaller credit available for taxpayers without qualifying children.

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