No Notary

Today TaxMama hears from Mark from Brooklyn, who asks, “is income from a notary public considered income for the EIC (the Earned Income Credit)?
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Most people I asked, said at their first instinct that, yes it is. But when I make them aware that this income is exempt from self-employed tax (not income tax) they say they don’t know. “

Dear Mark,

That’s an interesting question.

While I may not be absolutely right, I am willing to bet that you may not use notary income towards the Earned Income Credit.

Why? Note the name – Earned Income Credit.
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From everything I’ve read, in all publications and the code, you may not take any income into account that is not subject to SE taxes or employment taxes (except combat pay, which is a special exception in the Code).

Since Notaries get the special benefit excluding them from the 15.3% self employment tax, they don’t also get the benefit of qualifying for the EIC.

Now, if I am wrong, we’re going to hear about this quickly.
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Because this will be used for today’s TaxQuip.
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So stand by and watch the comments at TaxQuips.
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And remember, you’ll find answers to lots of information about earned income credits and other tax information, free. Where? At TaxMama.com

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