EITC, Earned Income Tax Credit, Questions and Answers

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** EITC, Earned Income Tax Credit, Questions and Answers **

-Here is a list of questions you frequently ask about EITC.  Scroll down
to find our answers-

· What is EITC, Earned Income Tax Credit?
· Who can claim the credit and how do I get it?
· IRS denied my EITC last year, but I qualify this year, what should I do?
· Who is a qualifying child?
· Who is an eligible foster child?
· What is Earned Income?
· How do I figure my credit?
· If I get the Advance EITC or AEITC do I have to file a tax return?
· What if I am prohibited from claiming the EITC for a period of years?
· Where can I get more information?

Return to EITC Home Page

-What is EITC, Earned Income Tax Credit?-


EITC, Earned Income Tax Credit, is a benefit for working people who have
low to moderate


Source: www.irs.gov/Individuals/EITC,-Earned-Income-Tax-Credit,-Questions-and-Answers


Earned Income Credit: What is the Earned Income Tax Credit?

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** Earned Income Tax Credit **

*Refundable Tax Credit for Low-Income Workers*

By William Perez

*See More About*

· earned income credit
· tax credits

The earned income credit is a refundable tax credit designed for lower
income working families and individuals. The amount of the credit varies
depending on your level of income and how many dependents you support. The
tax credit can even generate a tax refund larger than the amount of tax
paid in through withholding. For the years 2009 through 2017, the Earned
Income Credit is temporarily increased for working families with three or
more dependents. Previously the earned income credit maxed out at two
dependents. The earned income credit will revert back to maxing out with
two dependents starting in the year 2018.

The easiest way to find out if you qualify for the earned income credit is
to use an application found on the IRS Web site called the EITC Assistant.
This applet will help you determine if you qualify for the Earned Income
Credit. There are applets for each tax year, so be sure to click on the
appropriate year.

More quick links to the IRS Web site:

· Publication 596, Earned Income Credit [pdf]
· Schedule EIC [pdf]

To be eligible for the earned income credit, both your earned income and
adjusted gross income needs to be within certain ranges. The amount of the
tax credit varies based on your earned income and how many qualifying
children you are supporting in your household


Source: taxes.about.com/od/deductionscredits/qt/earnedincome.htm

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