Marcum 2021 Year-End Tax Guide

HEALTH SAVINGS ACCOUNT CONTRIBUTION LIMITS 2021

2021

2022

Single/Family

$3,600/$7,200

$3,650/$7,300

Age 55 + IRA Catch-Up Contribution

$1,000

$1,000

Age 55 + Catch-up contributions to 401(k), 403 (B) and 457 and Thrift Plans

$6,500

$6,500

Catch-up contributions to SIMPLEs

$3,000

$3,000

2022 EARNED INCOME TAX CREDIT (EITC) PARAMETERS

THREE OR MORE CHILDREN

NO CHILDREN

TWO CHILDREN

FILING STATUS

ONE CHILD

Income at Max Credit Maximum Credit Phaseout Begins Phaseout Ends (Credit Equals Zero) Income at Max Credit Maximum Credit Phaseout Begins Phaseout Ends (Credit Equals Zero)

$7,320

$10,980

$15,410

$15,410

$560

$3,733

$6,164

$6,935

SINGLE OR HEAD OF HOUSEHOLD

$9,160

$20,130

$20,130

$20,130

$16,480

$43,492

$49,399

$53,057

$7,320

$10,980

$15,410

$15,410

$560

$3,733

$6,164

$6,935

MARRIED FILING JOINTLY

$15,920

$26,260

$26,260

$26,260

$22,610

$49,622

$55,529

$59,187

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