Reply to thread

Message: <blockquote data-quote="bacha29" data-source="post: 2482235" data-attributes="member: 58386"><p>A person can use the higher of the standard deduction or itemized deductions on Schedule A. However if you noticed the types of deductions a person can use of SchA has been disappearing over the years.The reason. The IRS simply doesn't have the manpower to audit those small deductions anymore and the general rule is that if they believe that there's not at least $1000 in additional tax to obtain they don't bother. That is in part the reason why the standard deduction has been increased over the years. As for the EIC it is meant to give low income taxpayers their taxes back and a little more to help them. Clearly designed to help people working low pay but important jobs to not quit and go on welfare. It's a good deal for small business employers whose jobs would likely go wanting without the EIC</p></blockquote><p></p>