> I've seen this claimed repeatedly, but have never, ever seen any concrete > proof. > > Please talk to your accountant friend, if you would, because there are > literally thousands of threads on the web that don't have this proof.
These are coming from me, not my accountant, but take a look at the qualifications: http://www.taxformprocessing.com/tax/faq/tax26.htm (scroll down to see qualifying incomes). For a family of three, the 2008 ADJUSTED GROSS income limit is $33,995. How could a family of three (two adults and one child) have such a low AGI? Here are some scenarios: * Both adults work full time jobs that are on the "low end" of the income rage, say $9.00/hr * One adult works a job that makes less than $45k (based on the standard deductions listed at http://taxes.about.com/od/2008taxes/qt/quicktaxfacts08.htm). * As an alternate, the gross income of the combined adults is less than $45k There are other tax credits and deductions that could bring a moderate income below the $34k limit. FICA Social Security and Medicare are collected at 7.65% combined, which at the $45k limit would be $3,442.50. This is $525.50 more than the associated EIC credit of $2,917. These numbers are based on a family of three - that is two people over the age of 18 and one child, regardless of age. They change for a family of 4. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:284315 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
