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Earned income tax credit

A relief from the Social Security tax for working, low-income individuals. Congress originally approved the tax Credit in 1975 to Offset the burden of Social Security taxes and to provide an incentive to work.

Related Terms: 9 Credit, ECU, Inc., Low, Offset, SEC, Social Security, Social Security Tax, Tax
Other Related Pages: Category: Taxes Starting With: E
Additional Related Terms: 10-K, 52-week low, 12b-1 funds, Allowance for depreciation, Approved list, Accrual of discount, After-tax basis, Agency security, Amortization of premium, Asset-backed security