EARN IT Act

Summary

Enhancing Advancement, Reducing Noncompliance, and Improving Trust Act or the EARN IT Act This bill amends the Internal Revenue Code to increase the Earned Income Tax Credit (EITC) for individuals with no qualifying children and to establish additional requirements for claiming the EITC and the child tax credit. The bill modifies the EITC for individuals with no qualifying children by: increasing the credit and phaseout percentages, increasing the earned income and phaseout amounts, reducing the minimum age to claim the credit, and modifying the formula for inflation adjustments. For a qualifying child to be taken into account for the EITC, a tax return must include a certification of the child's residency. The bill prohibits the refundable portion of the child tax credit (commonly referred to as the additional child tax credit) from being claimed for a qualifying child unless the tax return includes a valid social security number for the child. The bill increases from two to five years the disallowance period for taxpayers who improperly claim the EITC due to reckless or intentional disregard of rules and regulations.

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Timeline

1. 14 April 2016

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 14 April 2016

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 April 2016

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 April 2016 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 April 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 April 2016

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 14 April 2016

  Open at official source

Sponsors

• Mike Coffman · R · Sponsor
• Timothy Walz · D · Sponsor
• Rep. Hardy, Cresent [R-NV-4] · R · Sponsor
• Carlos Curbelo · R · Cosponsor
• · hswm00 · Standing

Related records

• related to → EARN IT Act