Q) How do I qualify for Earned Income Tax Credit?
A) The Earned Income Tax Credit (EITC) is a refundable tax credit for low- and moderate-income working individuals and families. The amount of the credit you can claim depends on your income, filing status, and the number of qualifying children you have.
To qualify for the EITC, you must:
- Be a U.S. citizen or resident alien.
- Have earned income.
- Meet certain income limits.
- File a tax return.
You can use the IRS EITC Assistant to see if you qualify for the EITC and how much you can claim.
Here are some additional things to keep in mind about the EITC:
- The EITC is a refundable credit, which means that if the amount of your credit is more than your tax liability, you will receive a refund.
- The EITC is available to taxpayers who file their taxes with the IRS.
- The EITC is a valuable tax credit that can help low- and moderate-income working individuals and families get ahead financially.
If you think you might qualify for the EITC, I encourage you to file your taxes and claim the credit. It could save you hundreds or even thousands of dollars.