Massachusetts H2762 amends the earned income tax credit to increase family stabilization.
Massachusetts H2762 amends the earned income tax credit to increase family stabilization. The bill modifies eligibility criteria, allowing individuals to claim the credit if they are eligible individuals or eligible students. It also adjusts the maximum earned income and phaseout rate, and requires the Department of Revenue to disseminate information about the guaranteed minimum income credit. The changes apply to tax years beginning on or after January 1, 2022.
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