|
EITC Information for Head Start Parents
|
|
|
 |
|
The Earned Income Tax Credit (EITC) is a tax benefit for people who work, but don't earn much money. If you qualify, the EITC will reduce your taxes and could give you back up to $4,716 when you file your federal tax return. Even if you don't owe income tax, you can get a refund through the EITC.
|
|
|
|
EITC Information for Head Start Parents
- What is Earned Income Tax Credit or EITC?
The Earned Income Tax Credit
(EITC) is a refundable federal income tax credit for low-income
working individuals and families. When the 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 did not earn
enough money to be obligated to file a tax return.
- How can I find out if I am eligible?
Here are some general rules that apply to the credit:
- You must have earned
income from employment.
- You must have a valid
Social Security Number.
- You cannot use the
"married filing separately" filing status.
- You must have been a U.S.
citizen or resident alien for the entire year.
- You cannot file Form 2556
or 2555-EZ (related to foreign earned income).
In order to qualify for EITC, your earned income must be less than:
- $33,241 ($35,241 if
married and filing jointly) with one qualifying child;
- $37,783 ($39,783 if
married and filing jointly) with two or more qualifying
children;
- $12,590 ($14,590 if married and filing
jointly) with no qualifying
children.
Special rules may apply for
members of the U.S. armed forces and taxpayers in designated
disaster areas.
- Contact
For
more information, including information on how to find a trained volunteer in your community that can assist you prepare your EITC request and provide you with information on other IRS tax credits, contact the IRS toll free at: 1-800-TAX-1040 or go to their web site http://www.irs.gov/individuals/article/0,,id=96406,00.html,
which has information in both English and Spanish.
|
|
|
 |
|
|
|
Last Updated: November 10, 2008
More on Asociaciones con la familia y la comunidad