The Earned Income Tax Credit: What Is It And Who Qualifies?
The Earned Income Tax Credit: What is it and who qualifies?
With tax season upon us, it's important to know about the Earned Income Tax Credit.
The Earned Income Tax Credit is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children.
So Who Qualifies?
The amount of EITC benefit that you may receive depends on your income and number of children if any. See below for guidelines for qualifying income amounts.
|If filing…||Zero children||One child||Two children||Three or more|
To claim the EITC, you must file a tax return. Additionally, you, your spouse and your children must have their own social security numbers.
You can file your tax return yourself or through your tax professional. You may also qualify for free tax preparation and advice. Contact the Volunteer Income Tax assistance program or VITA at IRS.gov to see if you qualify.
Lori Stratford is the Digital Media Manager at Navicore Solutions. She promotes the reach of Navicore's financial education to the public through social media and blog content.