10/18/2023
🚨 Tax Tip from MNF Tax Pro 🚨
EIC has increased due to inflation. This means that the cost to live increased, but your income did not.
Most clients are excited about the increase because this means that your refund will increase and so will dependent 👦 amount. 💰
1 eligible dependent 👦 = $3,995
For those of you filing 1 eligible dependent 👦
your income can’t exceed $46,560 to qualify and so on…
Here a map that shows your exceeding income and how much each eligible dependent should contribute to your tax refund.