For example, the United States government fiscal year for 2017 is: 1  1st quarter: 1 October 2016 â 31 December 2016. 2  2nd quarter: 1 January 2017 â 31 March 2017. 3  3rd quarter: 1 April 2017 â 30 June 2017. 4  4th quarter: 1 July 2017 â 30 September 2017.
Childless workers receive very small EITCs. The maximum EITC for a childless worker between ages 25 and 64 is just over $500. Most workers receive far less â the average credit for eligible workers was $281 in 2013, the latest year for which data are available. This was less than one-tenth the average $3,100 EITC for tax filers with children that year.
This is called the âincome thresholdâ - anything you earn above that will reduce the amount you can get. The income threshold for Working Tax Credit (or Working Tax Credit and Child Tax Credit together) will be reduced to Â£3,850 in April 2016.rom April 2016, the amount of household income you can have to get the maximum amount of Working Tax Credit is being reduced. Find out more about the income threshold cuts. These changes could have an impact on your income if youâre affected, so itâs best to be prepared.