BobKamman
Level 15
04-09-2023
02:18 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It's like depreciation. Allowed or allowable. Shall means shall:
I.R.C. § 32(a)(1) In General —
In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the credit percentage of so much of the taxpayer's earned income for the taxable year as does not exceed the earned income amount.