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Do you qualify for the EITC?

Posted by juanital (My Page) on
Thu, Feb 1, 07 at 23:25

EITC-Earned Income Tax Credit...The IRS site has a EITC Assitant to see if you qualify...I copied and pasted this from IRS TAX TIPS that I subcribed to....
The IRS estimates 20 to 25% percent of people who qualify for the credit do not claim it....At the same time, there are millions of Americans who claim it in error, many do not understand the criteria...
IRS.gov provides an interactive tool that removes the guesswork from eligibility rules...Answer a few questions about yourself, children, your living situation, your income to find out if you qualify and to estimate the amount of EITC..You'll see results of your responses right away...
The EITC is based on the amount of your earned income and whether or not there are qualifying children in your household. If you have children, they must meet the relationship, age and residency requirements. Additionally, you must file a tax return to claim the credit.

-You earned less than $12,120 ($14,120 if married filing jointly) and did not have an any qualifying children
-You earned less than $32,001 ($34,001 if married filing jointly) and have one qualifying child
-You earned less than $36,348 ($38,348 if married filing jointly) and have more than one qualifying child

I tried to keep this short but yet enough to see if you may be interested...They have have more info there...

Link provided to the EITC Assitant...

Here is a link that might be useful: EITC Assistant


Follow-Up Postings:

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RE: Do you qualify for the EITC?

I don't, but imagine I know some single moms who do qualify.

I'd assume that a paid tax preparer would be sure and see that they got it if they qualified. I 'think' one such person is getting back a lot more than she even paid in...which I found hard to believe.

Sue


 
 

 

 


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