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Earned Income Credit

Employees may be entitled to claim an Earned Income Tax Credit (EITC) on their 2013 federal and Maryland income tax returns if both their federal adjusted gross income and their earned income is less than:

  • $46,227 (for married filing jointly $51,567) - if you have three or more qualifying children
  • $43,038 (for married filing jointly $48,378) - if you have two qualifying children
  • $37,870 (for married filing jointly $43,210) - if you have one qualifying child
  • $14,340 (for married filing jointly $19,680) - if you do not have a qualifying child

For more information please visit www.irs.gov or www.marylandtaxes.com.

FICA Wage Limit Increases

The FICA wage limit for 2014 is $117,000

Medicare Rate

Wages up to $200,000 are taxed at 1.45%
Wages over $200,000 are taxed at 2.35%

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