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Community: Investing Wiki

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401k contributions EIC: Original post by Angie Mohr of Demand Media The earned income credit (EIC) is available for employed and self-employed taxpayers with low income. Several factors affect the amount of the credit available and the credit disappears when income reaches a maximum amount that is set by the IRS annually. Contributions to 401k plans do not reduce the EIC, but, rather, can increase it.

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