Sec. 3. Strengthening the earned income tax credit for individuals with no qualifying children

347 words·~2 min read·/bill/113/s/2162/is/section-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Paragraph

(1)of section 32(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: In the case of an individual (or, if the individual is married, either the individual or the individual’s spouse) who— has attained the age of 21 but not attained age 25 before the close of the taxable year, and is not a full-time student at any time during the taxable year, paragraph (1)(A)(ii)(II) shall not apply for purposes of determining whether such individual is an eligible individual. For purposes of this subparagraph, an individual shall be considered a full-time student if such individual is carrying more than 1/2 the normal full-time work load for the course of study the individual is pursuing. . Not later than 1 year after the date of the enactment of this Act, the Secretary of the Treasury shall develop and implement procedures for checking an individual’s claim for a credit under section 32 of the Internal Revenue Code of 1986, by reason of subsection (c)(1)(G) thereof, against any information return made with respect to such individual under section 6050S. The table contained in section 32(b)(1)(A) of such Code is amended by striking 7.65 each place it appears and inserting 15.3 . The table contained in section 32(b)(2)(A) of such Code is amended— by striking $4,220 and inserting $8,820 , and by striking $5,280 and inserting $10,425 . Subparagraph

(B)of section 32(j)(1) of such Code is amended— by inserting except as provided in clause

(iii)in clause

(i)before in the case of amounts , by striking and at the end of clause (i), by striking the period at the end of clause

(ii)and inserting , and , and by adding at the end the following new clause: in the case of the $8,820 and $10,425 amounts in subsection (b)(2)(A), by substituting calendar year 2014 for calendar year 1992 in subparagraph

(B)of such section 1. . The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.