Employee Tax Credit - Federal Earned Income Credit (EIC) Program

Employees may be eligible for an earned income tax credit in 2003. The size of this credit depends on your wages and the number of children in a family, along with the following expanded earned income guidelines:

• Families with two or more children may qualify for EIC if the 2003 earned income and adjusted gross income will each be less than $33,692 ($34,692 if married and filing jointly);
• Families with one child may qualify for EIC , with a 2003 earned income and adjusted gross income of less than $29,666 ($30,666 if married and filing jointly); 
• Families with no qualifying children may be eligible for EIC , if their total income for 2003 is less than approximately $11,060 and they are 25 to 64 years of age.

Even families that didn=t earn enough to owe federal income taxes may be eligible for EIC.

Employees may be eligible for advance EIC payments of up to $1,528 in 2003 which would be included with their pay.  If eligible, IRS Form W-5, Earned Income Credit Advance Payment Certificate, for 2003 should be completed and sent to The Agriculture Program Payroll Office at 2162 TAMU, College Station, TX 77843-2162, or for on-campus, mail stop 2162.

More information about EIC and the IRS Form 5 can be found at the IRS website at http://www.irs.gov or contact The Agriculture Program Payroll Office: 979-845-3636, or 979-845-4260.

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