Those filing tax returns this year may be in for more money.
South Carolina's Earned Income Tax Credit goes up to 41.67% from 20.83%.
The EITC will return more money for low- to …
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Those filing tax returns this year may be in for more money.
South Carolina's Earned Income Tax Credit goes up to 41.67% from 20.83%.
The EITC will return more money for low- to moderate-income working individuals or couples, particularly those who have children.
If your 2019 federal EITC is $1,000, your South Carolina EITC will total $416.70 this year.
South Carolina's version of the federal EITC was adopted in 2018 and is being phased in over 6 years.
By tax year 2023, South Carolina taxpayers will be able to claim 125% of the federal EITC.
For more information, visit https://dor.sc.gov/communications/sc-earned-income-tax-credit-increases-in-2020 .
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