How do you qualify for Earned - Income - Tax - Credit?

United States
January 19, 2012 4:42am CST
This year, IRS might grant people with this earn - income - tax - credit, if you have low income. I just don't know if I would qualify for it or not. Some people said, if you earn less tan $57,000 per year, and you have children or spouse who is dependent on you or something like that. I just wonder, if I am still single, and I am earning less than $57,000, would I be qualify for it? Does anyone know more information about this tax benefit? I heard that this year might getting less in 3% of tax return on average people.
2 responses
@FrugalMommy (1438)
• United States
20 Jan 12
To claim the earned income credit this year, you need to: -file a tax return even if you don't owe anything -have income from earnings -your adjusted gross income (AGI) and your earned income must be less than the requirements (when filing as single or head of household this is $43,998 with more than 2 children, $40,964 with 2 children, $36,052 with one child, or $13,660 with no children) -you must be a U.S. citizen or resident alien for the whole year -you (and your children) must have valid Social Security numbers -your investment income has to be $3,150 or less -if you don't have a child you must be between 25-65 years old at the end of the tax year, you can't be a dependent on someone else's return, and you have to live in the U.S. for over six months of the year
• United States
19 Jan 12
there are qualifying factors involved. are you married and filing jointly? do you have dependents? what is your adjusted gross income? what is your age? do you file your taxes independently or do you use a tax program? or do you go to a tax office? (h&r block, jackson hewitt...) you can get earned income credit if you're married, filing jointly, have dependents and your income meets the guidelines. if you're single over the age of 65, and your income meets the guidelines, you could get earned income credit. if you have your taxed prepared by a tax office, they have already been trained to give you all the tax breaks you are qualified for. the tax software, i'm not all familiar with, but i know that with h&r block, if you use their software, you can also connect with a tax preparer online or on the phone and they'll help guide you to find your tax breaks. hope this helped some.