Detailed Instructions: Write a phrase, the answer to which is present in the passage. The answer to this question should be completely and unambiguously found in the passage. The query must be about a single or multiple linked entities. 
Q: Earned income includes all the taxable income and wages you get from working or from certain disability payments. There are two ways to get earned income: You work for someone who pays you or. You own or run a business or farm. Taxable earned income includes: Wages, salaries, tips, and other taxable employee pay; Union strike benefits; To be your qualifying child, a child must be your: 1  Son, daughter, adopted child, stepchild, eligible foster child, or a descendant of any of them (for example, your grandchild), or. 2  Brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them (for example, your niece or nephew). Contemporary Examples. 1  McConnell similarly talked out of both sides of his mouth on the minimum wage, the earned income Tax Credit, and other issues. 2  Of course, the earned income Tax Credit will get scored by the CBO as costing money, while a higher minimum wage won't. How to Think About the Minimum Wage Megan McArdle February 14, 2013 Today's earned income Tax Credit is its successor, and it is available only to those already committed to work. Let's Revisit the Negative Income Tax David Frum February 1, 2013 And in 1975, the year after Nixon resigned, Democrats and Republicans worked together to pass the first earned income Tax Credit. Earned income. Earned income is pay you receive for work you perform, and includes salaries, wages, tips, and professional fees. Your earned income is included in your gross income, along with unearned income from interest, dividends, and capital gains. If you have earned income, you're eligible to contribute to an individual retirement account (IRA). earned income Define earned income. earned income synonyms, earned income pronunciation, earned income translation, English dictionary definition of earned income. n income derived from paid employment and comprising mainly wages and salaries any royalty earned by an individual in connection with any publication of the work of the individual, and that portion of any honorarium which is received for services rendered; and. unearned income means all other income, including— To qualify for and claim the Earned Income Credit you must: Have earned income; and; Have been a U.S. citizen or resident alien for the entire tax year; and; Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly), and any qualifying children on your return; and; Not have investment income exceeding $3,450; and Use this term in a sentence. “ 1  You should always have your accountants looking for any earned income tax credit that you may be able to get. “ 2  The earned income tax credit was very useful for the lower income individuals who are able to take advantage of it. This article focuses on active, earned income and the tax implications of receiving earned income. You may have income from other passive sources, so earned income is not equal your adjusted gross income or your gross income for income tax calculation purposes. Earned income definition, income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner. See more.
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earned income meaning