Tax guide

Earned Income Tax Credit

What is the Earned Income Tax Credit?

The Earned Income Tax Credit, or EIC, is aimed at working taxpayers with low to moderate levels of income. Married and unmarried taxpayers alike can qualify, so long as they are earning money from wages or self-employment and their income level falls below the threshold based on family size. The amount of the credit that can be claimed is based on a number of factors – the amount of income, the number of qualifying dependents, and the age of the taxpayer. Most importantly, this credit is refundable, meaning that if your tax liability is zero, you can still receive a portion of the Earned Income Credit as part of your tax refund.

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