The Earned Income Tax Credit - EITC or EIC
The Earned Income Tax Credit - EIC or EITC - is a refundable tax credit for taxpayers who have low or moderate incomes. This credit is meant to supplement your earned income, which is income you have earned by working - employment or W-2 income or being self-employed. Learn more on what is earned income versus investment or unearned income.
Are You Eligible for the EITC?
Simply use this tool and you will know if you qualify and the the tax credit amount without going through a lot of Tax Mumbo Jumbo. The Earned Income Tax Credit you can reduce your taxes and increase your tax refund, allowing you to keep more of your hard-earned money. The credit is calculated based on your total earned income or your total Adjusted Gross Income (AGI), whichever is higher. Here is a high level overview on how to qualify for the EITC.
The calculator is based on the EITC income limits, IRS filing status, and the amount of dependents being claimed - determine your EITC eligibility below.
The eFile.com Earned Income Credit Calculator or EITC
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They Earned Income Credit may give you up to $3,000, $6,000, or more depending on your situation. You may be eligible for the EITC this year if you work and earn income under a certain amount, have a valid Social Security Number, and file your income taxes. Find out how eFile.com helps you claim the EITC along with other tax credits and deductions, including state earned income credits.
How to Claim the Earned Income Tax Credit for a Previous Tax Year
The income limits for the EITC get adjusted every year, so even if you did not qualify for the EITC in the past, you might qualify now and be able to claim it this year on your return. Start the EITCucator tool below to see if you qualify for this credit and learn what your credit amount may be before you prepare and e-File your tax return on eFile.com.
If you need to claim the EITC for a previous year for the first time or by filing a tax amendment for an accepted return, start by determining your eligibility with these calculators below.
For any year, you may not get the full EITC if your earned income is too high, your investment income is too high, you have only retirement or unemployment income, you are filing Form 2555, or for other reasons outlined in the tool. A single person without dependents making low or moderate income can still qualify for the EITC, but a married taxpayers and/or those with dependents will benefit from the credit the most - plus, those with dependent children can also claim the Child Tax Credit. Once your return is filed and accepted with your Earned Income Credit, the IRS will begin processing it. See how to track your tax refund and EITC.
Prepare to prepare your next tax return with eFile.com and see why eFile has become trusted amongst taxpayers. The eFile platform will not only claim the credit for you, but will calculate the maximum amount you are entitled to. See our promises and compare to other tax preparation services to see for yourself!
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