Earned Income Tax Credit

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August 20, 2014
Author: NCH

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There is a tax credit that 1 in 5 eligible workers often overlook. It’s the Earned Income Tax Credit or EITC. The EITC has been helping low- to moderate-income workers by giving them a boost to their income. You may qualify for it if you worked any part of last year and earned generally $52,000 or less. Exactly how much the credit will be depends on your income, family size and other factors. It’s important to get it and get it right. If you earned $52,000 or less from wages, self employment or farming, see if you qualify for the Earned Income Tax Credit. You might qualify for EITC this year even if you didn’t in the past. Workers who qualify for EITC must file a federal income tax return and specifically claim the credit to get it, even if they do not have a requirement to file a return.

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