As a married couple, Yihong and Kaylee’s EIP was $2,800. In 2021, they computed their recovery rebate credit as $4,200 due to th

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2 years ago

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e birth of a child in 2021. The 2021 net impact of the EIP and RRC will be to:

1 answer:

saw5 [17] · Answer 1 · 2023-06-12T14:29:52+03:00

The 2021 net impact of the EIP and RRC will be to C. decrease the tax liability by $500.

It should be noted that a tax simply means the levy that's imposed on the individuals or forms by the government.

Here, Yihong and Kaylee’s EIP was $2,800. In 2021, they computed their recovery rebate credit as $4,200 due to the birth of a child in 2021.

Therefore, the 2021 net impact of the EIP and RRC will be to decrease the tax liability by $500.

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