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To claim the Earned Income Tax Credit (EITC), you must have what qualifies as earned income and meet certain adjusted gross income (AGI) and credit limits for the current, previous and upcoming tax years. Use the EITC tables to look up maximum credit amounts by tax year.
Tax Table: See the instructions for line 16 to see if you must use the Tax Table below to figure your tax.
What Is the EIC? The EIC is a tax credit for certain people who work and have earned income under $63,398. A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC may also give you a refund. Can I Claim the EIC? To claim the EIC, you must meet certain rules. These rules are summarized in Table 1. Table 1.
Income Limits and Amount of EITC for additional tax years. See the earned income and adjusted gross income (AGI) limits, maximum credit for the current year, previous years and the upcoming tax year.
2023 Tax Table. 2023 Tax Computation Worksheet. 2023 Tax Rate Schedules. Your Rights as a Taxpayer. How To Get Tax Help. Index. Where To File. Your Rights as a Taxpayer. Your Rights as a Taxpayer. Page 3 of 142.
Once you determine that you qualify for the credit, use the Earned Income Credit table found in the instructions for Form 1040 to look up your income and find out the amount of credit you're entitled to.
The earned income tax credit (EIC or EITC) is for low- and moderate-income workers. See qualifications and credit amounts for 2024-2025.
EITC Income Limit Threshold & Phaseout Tables for 2024. In addition to the aforementioned qualifications, you must have earned income and adjusted gross income (the greater of which is used) within certain income limits in order to qualify for the earned income credit.
You can use this EIC Calculator to calculate your Earned Income Credit based on the number of qualifying children, total earned income, and filing status. Provide the following information and then click "Calculate My EIC" to retrieve results: Enter your total earned income.
Required Notice to Employees About the Earned Income Credit \(EIC\) 11. Depositing Taxes. 12. Filing Form 941, Form 943, Form 944, or Form 945. 13. Reporting Adjustments to Forms 941, Form 943, or Form 944 ... Wage Bracket Method withholding tables, the employer in-structions on how to figure employee withholding, and the amount to add to a ...