Earned Income Tax Credit (EITC) Information
The Earned Income Tax Credit (EITC) sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.
The EITC has no effect on most public benefits. In most cases, EITC payments will not be used to determine eligibility for Medicaid, Supplemental Security Income (SSI), food stamps, low-income housing or most Temporary Assistance for Needy Families (TANF) payments.
Claim your Earned Income Tax Credit and have your returned prepared and e-filed by the tax team at 1040 Tax Relief. Call 714-255-8127 for an appointment today. To qualify, taxpayers must meet certain requirements and file a tax return, even if they did not earn enough money to be obligated to file a tax return.
Do you qualify for the EITC?
- Three Children: Income maximum is less than $43,998 (S, HH, QW) or $49,078 (MJ);credit maximum is $5,751
- Two Children: Income maximum is less than $40,964 (S, HH, QW) or $46,044 (MJ);credit maximum is $5,112
- One Child: Income maximum is less than $36,052 (S,HH, QW) or $41,132 (MJ);credit maximum is $3,094
- No Children: Income maximum is less than $13,660 (S, HH, QW) or $18,740 (MJ);credit maximum is $464
What To Bring
- Valid picture I.D. …Continue Reading