Who qualifies for earned income credit?
Earned income credit, or earned income tax credit (EITC), is a refundable tax credit for workers with low or moderate income. For those who are eligible in 2020, EITC ranges from person to person from $538 to $6,660.
To claim EITC, you must meet the criteria below. If you do, then make sure you claim it when filing your 2020 taxes.
- You must have earned at least $1 of earned income (not from pensions or unemployment).
- You must have earned no more than $3,650 from investments.
- If married, you are filing jointly.
- You cannot file a Form 2555 or Form 2555-EZ.
- Both your earned income and adjusted gross income (AGI) are no greater than:
|Filing status||0 children||1 child||2 children||3 or more children|
|Single, head of household, qualifying widower||$15,570||$41,094||$46,703||$50,162|
|Married filing jointly||$21,370||$46,884||$52,493||$55,952|
Find out if you qualify for earned income tax credit
After looking at the information provided here, if you are still not sure whether you qualify for EITC, you can use the IRS’s EITC Assistant. This tool helps you find out if you are eligible for EITC or if you have any family members who are eligible, and it helps you estimate the amount of credit you can expect to receive.
You can also always talk with your personal financial advisor about EITC and other questions you have about taxes, savings, retirement and other financial areas of your life.
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