TITLE 26. INTERNAL REVENUE CODE § 32. Earned income [Caution: For the inflation adjustment of certain items in this section, see the Revenue Procedure which appears as 26 USCS § 1 note.]., 26 USCS § 32

Summary

(a) Allowance of credit.

(1) In general. In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by this subtitle [26 USCS §§ 1 et seq.] for the taxable year an amount equal to the credit percentage of so much of the taxpayer’s earned income for the taxable year as does not exceed the earned income amount.

(2) Limitation. The amount of the credit allowable to a taxpayer under paragraph (1) for any taxable year shall not exceed the excess (if any) of—

(A) the credit percentage of the earned income amount, over

(B) the phaseout percentage of so much of the adjusted gross income (or, if greater, the earned income) of the taxpayer for the taxable year as exceeds the phaseout amount.

(b) Percentages and amounts. For purposes of subsection (a)—

(1) Percentages. The credit percentage and the phaseout percentage shall be determined as follows:

In the case of an eligible individual with:	The credit percentage is:	The phaseout percentage is:
1 qualifying child	34