Loretta is a single mom with two children who works at the Montgomery County Clerks Office and
Question:
a. Compute the EITC that Loretta is qualified to receive. Use the EITC parameters from Table 14.6.
b. What is the phase-out rate to which Loretta is subjected?
c. Determine the combined effective tax rate that Loretta faces from the income tax rate (Table 14.2) and the phase-out rate (Table 14.6).
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