23 Miss. Code. R. 104-5.2 - Exclusion of Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) Payments

A. The EITC is a special tax credit that reduces the federal tax liability and results in a payment to the low-income taxpayer, either as advance from the employer or a refund from IRS. Exclude the EITC received either as an advance or as a refund.

B. The CTC is a special refundable federal tax credit that is available to parents, step-parents, grandparents and foster parents and provides a refund to individuals even if they do not owe any tax. There is no advance payment with the CTC. Exclude CTC refund payments from income.

Notes

23 Miss. Code. R. 104-5.2

Social Security Act §1902 (r)(2); 42 CFR §435.601(b) (Rev 1994).