Do You Qualify for the Earned Income Credit?

income tax, tax breaks, your tax return | February 16, 2016 | By James Stork

Earned Income Tax Credit – a refundable credit

Approved by Congress way back in 1975, the Earned Income Tax Credit (often called just Earned Income Credit or EIC) was enacted as a way to offset the burden of Social Security taxes and to provide an incentive to work.

infographic on claiming EICWorking families as well as single working taxpayers qualify for this refundable credit. “Refundable” means that even if it exceeds the amount of tax you owe, you still receive the EIC as a refund.

In order to receive the EIC, you have to meet certain requirements and file an income tax return, even if you don’t owe any tax or aren’t required to file. When you file your taxes on 1040.com, we’ll help you claim the maximum Earned Income Credit based on your qualifications. Check our EIC infographic for info about EIC eligibility.

More information is available in our Tax Guide.