What is the Advance Earned Income Credit threshold for 2007?
The maximum ADVANCE payment a qualified Earned Income Credit recipient may receive is $1,712, compared to $1,648 in 2006. (Single or Married Without Spouse Filing Certificate). The remaining amount of credit can be claimed by the employee on his or her annual tax return (Form 1040). For married employees who jointly file Form 1040, and each file Form W-5 with their respective employer, the 2007 ADVANCE payment limit for each spouse is $856.