Are you eligible for the Earned Income Tax Credit?

February 7, 2014 HooverTaxNews Tax Tips 0 comments

Do you know that one in five eligible, working Americans qualify for the Earned Income Tax Credit (or EITC) but do not take it? That could be up to $6,044 of YOUR money left on the table.

If you are filing as married, worked full time or part time in 2013, have three or more children living with you and earned less than about $51,567, you may qualify for the maximum credit. The amount of the credit varies based on each individual situation. For instance, having children is not necessary if you earned less than $14,000, you could also qualify. Depending on how much you earned, your filing status, whether you have children, etc., the amount of your EITC could be as much as $6,044. Even if you don’t owe income tax, you must file a tax return to get the credit.

For more information on this tax credit, visit the IRS tax page for common questions, or give us a call at 205-582-2220 or visit our location in Lorna Brook Village and we’ll make sure you’re taking all the deductions available to maximize your refund!

Earned Income Tax Credit

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