The Earned Income Tax Credit Puts Money in Your Pocket
If your family earned less than $53,505 year, you may qualify for over $6,000 cash back from the IRS through the Earned Income Tax Credit - or EITC. You can qualify even if you don’t owe taxes, but you must file a tax return to receive a payment. Eligibility is based on several factors, but 4 out of 5 people who apply will receive credit. Here are the basics:
|
Qualifying Children |
For Single/Head of Household or Qualifying Widow(er), Income Must be Less Than |
For Married Filing Jointly, Income Must be Less Than |
You May Receive Up to |
|
No Child |
$14,880 |
$20,430 |
$506 |
|
One Child |
$39,296 |
$44,846 |
$3,373 |
|
Two Children |
$44,648 |
$50,198 |
$5,572 |
|
Three or More |
$47,955 |
$53,505 |
$6,269 |
In general, a "qualifying child" is one under 19 who lived with you for at least half the year, but other children, including young adults may qualify. Use IRS's online EITC Assistant at www.irs.gov/eitc to see if you qualify. (Version en Espanol) Credits or cash do not count as income under benefits like food stamps (now called SNAP), SSI, Medicaid, cash assistance, or public housing. Remember, if you are eligible, you must file a federal income tax return and you must specifically claim the credit to get it. You earned it. Now file, claim it and get it.
The IRS can calculate the credit for you. Put “EIC” on the dotted line next to line 64a (Form 1040), to the left of the entry space for line 38a (Form 1040A), or in the space to the left of line 8a (Form 1040EZ). You still need to report your "earned income" and claim qualifying children (if applicable) on Schedule EIC. Follow the instructions on your tax form or see IRS Publication 596 for complete details.
Free Tax Return Preparation Assistance
The IRS Volunteer Income Tax Assistance Program (VITA) and the Tax Counseling for the Elderly (TCE) Programs offer free tax help for taxpayers who qualify. Trained volunteers can help with special credits, such as Earned Income Tax Credit, Child Tax Credit, and Credit for the Elderly or the Disabled. Most sites also offer free electronic filing (e-filing) for faster refunds.
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To locate the nearest volunteer site click here or call 1-800-906-9887.
Free Electronic Filing
Let Free File do the hard work for you with brand-name software or online Fillable Forms. You can prepare and e-file your federal return for free. Participating software companies make their products available through the IRS. Some also support state tax returns. Learn more here: www.irs.gov/Filing
