Maryland Refundable EIC is worth $40 million more this tax season; Expanded to include childless houesholds
Governor O'Malley and the General Assembly expanded the Maryland refundable earned income credit (REIC) during the Special Session in November 2007, increasing the REIC from 20% to 25% of the federal EIC and extending the REIC to taxpayers without "qualifying children." Taxpayers will benefit from these changes when they file taxes on income earned in 2008.