A bill to provide COVID-19 related assistance through a special earned income rule for purposes of the refundable child and earned income credits for taxable year 2020.
About This Bill
Committee
Latest Action · March 19, 2020
Read twice and referred to the Committee on Finance.
COVID-19 Earned Income Act
This bill sets forth a special rule for determining the amount of the earned income tax credit and the refundable portion of the child tax credit. Specifically, the bill allows a taxpayer to use the earned income of the preceding taxable year in computing such credits if such income is greater than the income for the current taxable year (i..e., 2020).
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