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Earned Income Credit |
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Earned income credit A tax credit for taxpayers with children. Earned income credit (EIC). The earned income tax credit (EIC) reduces the income tax that certain low-income taxpayers would otherwise owe. It's a refundable credit, so if the tax that's due is less than the amount of the credit, the difference is paid to the taxpayer as a refund. To qualify for the EIC, a taxpayer must work, earn less than the government's ceiling for his or her filing status and family situation, meet a set of specific conditions, and file the required IRS schedules and forms. Earned Income Credit A refundable tax credit for qualified taxpayers based on earned income, adjusted gross income, and the number of qualifying children. See our Earned Income Tax Credit rate table for the current income limits. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The guidance relates to claiming a child for purposes of determining heed-of-household filing status, the child and dependent care credit, the child tax credit, the earned income credit, the exclusion for dependent care assistance and the dependency deduction, unless the special rule relating to a noncustodial parent applies. THE WFTRA PROVIDES A UNIFORM DEFINITION OF "qualified child" that applies for purposes of head-of-household filing status, the child care credit, the dependency exemption and the earned income credit. 112, as earned income for purposes of the earned income credit. |
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