Unlock Your Tax Savings: What You Need to Know About the Earned Income Tax Credit

Written By Michelle Carranza

In simple terms, the Earned Income Tax Credit (EITC) is a special tax benefit designed to help workers and families with low to moderate incomes. If you qualify, it can lower the amount of taxes you owe—and in some cases, even give you a bigger refund.

What are the Basic Qualifying Rules?

  • have earned income

  • have invested income below the limit

  • have a valid SSN by the due date of your return

  • be U.S citizen/resident all year

  • not file form 2555, foreign earned income

  • meet certain rules if seperated from spouse & not filing joint

Can You Claim Without a Qualifying Child?

You can claim the EITC without a qualifying child if you meet all of the following requirements. If you're filing jointly, both you and your spouse must:

  • meet the EITC basic qualifying rules

  • main home in the U.S for more than half the tax year

  • not claimed as a qualifying child on anyone else’s tax return

  • be at least 25 but under 65 (1 spouse must meet the age rule)

What Are Some Other Credits You May Qualify For?

  • child tax credit & the credit for other dependents

  • child & dependent care credit

  • education credits

Michelle Carranza
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