Tuesday, June 1, 2010

About My sister Mary is a single mom with two children who works at Montgomery's n earns $20,000 per year in salary.

My sister Mary is a single mom with two children who works at Montgomery's n earns $20,000 per year in salary.
A. Please help me compute the EITC that my sister is qualified to receive. B. What is the phaseout rate to which my sister is subjected? C. Determine the combined effective tax rate that my sister faces from the income tax rate and the phaseout rate.
United States - 1 Answers
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1 :
Sounds like a homework question. All of these are answered in IRS Pub 596. Snag a copy from the IRS website.
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