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Families are usually considered to be poor or low income are given assistance with the earned income credit, or EIC. The EIC can be a tax credit that helps such families with low earnings to see a better standard of just living. An EIC can translate to your tax refund of which range from $400 and $4,500. This review will explain how you can figure out if you are eligible for the EIC.
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Marginal tax rate will be the rate of tax you pay on your last (or highest) associated with income. In the earlier described example, the person is being taxed with a marginal tax rate of 25% with taxable income of $45,000. This might mean she is paying 25% federal tax on her last dollars of income (more than $33,950).
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