Exchange Currency

earned income tax credit

A relief from the Social Security tax for working, low-income individuals. Congress originally approved the tax credit in 1975 to offset the burden of Social Security taxes and to provide an incentive to work. The amount of the tax credit depends upon the number of qualifying children (if any), as well as the income of the parent or guardian. To receive the credit, an individual must file a tax return. This credit does not typically have any impact on other programs such as Medicaid or welfare.

Related information about earned income tax credit:
  1. EITC Home Page--It's easier than ever to find out if you qualify for EITC
    Aug 29, 2012 ... EITC, the Earned Income Tax Credit, sometimes called EIC is a tax credit to help you keep more of what you earned. It is a refundable federal ...
     
  2. EITC, Earned Income Tax Credit, Questions and Answers
    Aug 15, 2012 ... EITC, the earned income tax credit is a benefit for certain people who work and have low to moderate wages. A tax credit means more money in ...
     
  3. Earned Income Tax Credit (EITC) – Use the EITC Assistant to Find ...
    Aug 2, 2012 ... find out if you are eligible for EITC;; determine if your child or children meet the tests for a qualifying child; and; estimate the amount of credit.
     
  4. Earned income tax credit - Wikipedia, the free encyclopedia
    The United States federal earned income tax credit or earned income credit ( EITC or EIC) is a refundable tax credit for low- and medium-income individuals and ...
     
  5. Earned Income Credit: What is the Earned Income Tax Credit?
    The earned income credit is a refundable tax credit, which means the EIC lowers your taxes and gives you a bigger refund. The refund is available to lower ...
     
  6. Tax Calculator - Earned Income Credit (EIC) and Child Tax Credit ...
    View the Earned Income Credit (EIC) and Child Tax Credit table from H&R Block.
     
  7. Earned Income Tax Credit Could Pay Off | Bankrate.com
    The earned income tax credit, or EITC, can be a great benefit for many people. See if the earned income tax credit could pay off for you.
     
  8. Earned Income Tax Credit — Center on Budget and Policy Priorities
    The Center analyzes major tax proposals, examining their likely effects on the economy and on the government's ability to address critical national needs, ...