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vs 5,086 other S bills in the 116th — cohort avg 30d
COVID-19 Earned Income Act This bill sets forth a special rule for determining the amount of the earned income tax credit and the refundable portion of the child tax credit. Specifically, the bill allows a taxpayer to use the earned income of the preceding taxable year in computing such credits if such income is greater than the income for the current taxable year (i..e., 2020).
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2020 · fourth_quarter · Accounting
Worked for passage of the COVID-19 Earned Income Act, S. 3542 and H.R. 6762, which was adopted in the omnibus COVID relief appropriations bill. The bills allow taxpayers claiming the Earned Income Tax Credit to use 2019 earnings when calculating their 2020 EITC.
Client expense: Not reported · Firm income: $10,000
Read twice and referred to the Committee on Finance.
Introduced in Senate
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Sources: Congress.gov
Government targets: HOUSE OF REPRESENTATIVES, SENATE