In short the Earned Income Tax Credit (EITC) is a refundable tax credit for low to medium income families and taxpayers. The credit, which was originally created in 1975, was established to offset Social Security taxes for low-income families. It is a huge tax benefit for low-income families as a married couple with three children could see a credit of up to $5,891 depending on other factors. Even a single person with no children can benefit depending on income level.
For more about who is eligible for federal EITC benefits read, “What is the Earned Income Tax Credit?”
Do I qualify for the Earned Income Tax Credit?
April 4, 2013 by Leave a Comment
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