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  3. determine the amount of the earned income credit i

Determine the amount of the Earned Income Credit in each of the following cases. Assume...

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Question

Accounting

Determine the amount of the Earned Income Credit in each of the following cases. Assume that the person or persons are eligible to take the credit. Use Table 9-3.

Required:

Calculate the credit using the formulas.

Note: For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.

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\begin{tabular}{|l|l|} \hline & Earned Income \\ a. A single person with earned income of $5,220 and no qualifying children. \\ \hline b. A single person with earned income of $22,800 and two qualifying children. \\ \hline c. A married couple filing jointly with earned income of $34,520 and one qualifying child. \\ \hline \end{tabular} TABLE 9-3* Earned Income Credit Tax Year 2021 * The dollar amounts in the table are subject to annual adjustments for inflation

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