The Center on Budget and Policy Priorities (CBPP) is making available a free tool to assist you in estimating how much you may receive from the Earned Income Tax Credit (EITC).
To access the online tool, please visit http://www.eitcoutreach.org/help/
The EITC is a benefit for working people who have low to moderate income. A tax credit means more money in your pocket. It reduces the amount of tax you owe and may also give you a refund.
To claim the EITC on your tax return, you must meet all the following rules:
- You, your spouse (if you file a joint return), and all others listed on Schedule EIC, must have a Social Security number that is valid for employment
- You must have earned income from working for someone else or owning or running a farm or business
- Your filing status cannot be married filing separately
- You must be a U.S. citizen or resident alien all year (If you are a nonresident alien married to a U.S. citizen or resident alien, see Publication 519, U.S. Tax Guide for Aliens)
- You cannot be a qualifying child of another person
- You cannot file Form 2555 or Form 2555 EZ (related to foreign earned income)
- You must meet the earned income, AGI and investment income limits (income limits change each year),
- And you must meet one of the following:
- Have a qualifying child (see who is a qualifying child below)
- If you do not have a qualifying child, you must:
- be age 25 but under 65 at the end of the year,
- live in the United States for more than half the year, and
- not qualify as a dependent of another person.
About Capital Area Asset Builders
Capital Area Asset Builders (CAAB) is a non-profit organization whose mission is to empower low- and moderate-income residents of the Greater DC Area to take control of their finances, increase their savings, and build wealth for a better future.
Connect with CAAB via our social media platforms:
- Twitter: @CAAB_GreaterDC
- Facebook: https://www.facebook.com/CapitalAreaAssetBuilders
- LinkedIn: https://www.linkedin.com/company/capital-area-asset-builders
