Earned Income Tax Credit
The Earned Income Tax Credit or the EITC is a refundable federal income tax credit for low to moderate 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 EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit. To qualify, taxpayers must meet certain requirements and file a tax return, even if they do not have a filing requirement.
From January through April of each year, CAA provides tax return preparation services at no cost to individuals who qualify for the Earned Income Tax Credit (EITC). The EITC, sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families.
The EITC has no effect on certain welfare 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.
Eligibility:
To qualify for the Earned Income Tax credit, your income must be lower than:- $43,279 if you have three or more qualifying children (or $48,279 for married couples filing jointly)
- $40,295 if you have two qualifying children (or $45,295 for married couples filing jointly)
- $35,463 if you have one qualifying child (or $40,463 for married couples filing jointly)
- $13,400 if you do not have a qualifying child (or $18,440 for married couples filing jointly)
For more information about eligibility, please visit the IRS's Earned Income Tax Credit Assistant
For more information about the Earned Income Tax Credit, please visit the EITC Home Page at irs.gov or contact Tri-County CAA via phone at (502) 222-1349
