Calendar year | Number of fraudulent
returns detected | Amount of fraudulent
dollars detected (in millions) | Percent of fraudulent
returns that involved the EIC |
---|---|---|---|
1993 | 77,840 | $136.8 | 98 |
1994 | 77,781 | 160.5 | 91 |
1995 | 62,309 | 131.7 | 73 |
1996 | 24,919 | 82.5 | 72 |
Source: IRS data.
Two or more
qualifying children | One qualifying
child | No qualifying
children | |
---|---|---|---|
Credit rate (percent) | 40.00 | 34.00 | 7.65 |
Earned income amount | $9,140 | $6,500 | $4,340 |
Maximum credit | $3,656 | $2,210 | $332 |
Phaseout begins | $11,930 | $11,930 | $5,430 |
Phaseout rate (percent) | 21.06 | 15.98 | 7.65 |
Phaseout ends | $29,290 | $25,760 | $9,770 |
1 Child | 2 or more
Children | No Children | |
---|---|---|---|
Credit rate (%) | 26.30 | 30.00 | 7.65 |
Phaseout rate (%) | 15.80 | 17.68 | 7.65 |
Earned income threshold | $7,750 | $8,425 | $4,000 |
Phaseout threshold | 11,000 | 11,000 | 5,000 |
Phaseout limit | 23,755 | 25,296 | 9,000 |
Maximum credit | 2,038 | 2,528 | 306 |