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Your Federal Income Tax

Important Changes for 2001

This is archived information that pertains only to the 2001 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Earned income amount is more. The amount you can earn and still get the credit has increased for 2001. The amount you earn must be less than:

  • $28,281 with one qualifying child,
  • $32,121 with more than one qualifying child, or
  • $10,710 if you do not have a qualifying child.

Investment income amount is more. The maximum amount of investment income you can have and still get the credit has increased for 2001. You can have investment income up to $2,450. For most people, investment income is taxable interest and dividends, tax-exempt interest, and capital gain net income. To get more detailed information, see Rule 5.

Kidnapped child. You may be able to claim the EIC for persons with a qualifying child even though your child has been kidnapped. To get more detailed information, see Kidnapped child under Rule 7.

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