What is the Earned Income Credit (EITC)?
The EITC, is a tax credit that reduces the amount of tax you owe and may give you a refund. This credit is for people who have earned income from working for someone or is self-employed.
Why EITC is Important?
The EITC is one of the Largest Antipoverty Programs. The EITC and the child tax credit (CTC) reduces poverty for working families. These credits lifted an estimated 9.1 million people out of poverty, of which more than half were children.
Basc EITC Eligibility Requirements
All Workers Claiming the EITC Must:
To claim this EITC with a qualifying child, the child must meet the relationship, age, residency and joint return requirements. For more information bout this requirement, please visit the IRS website at https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit.
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To apply for our services, please call 1(888) 346-5592. You can also apply for assistance online by clicking here.
Nationwide during 2018, 25 million eligible workers and families received about $63 billion in EITC. The average amount of EITC received nationwide was about $2,488.
Income and family size determine the amount of the EITC a taxpayer can receive.
The income amounts and the amount of EITC are adjusted for inflation every year.