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The Earned Income Credit is another doozy of the tax world. The IRS tries to remind everyone about it every year and still some people fail to claim what’s their’s. It’s another one for the family and those families in particular who work with moderate incomes.The Earned Income Tax Credit

People have varying attitudes about accepting financial help to offset their situations but the truth is that it’s your money anyways. All tax filers should check their eligibility for the EIC because overlooking a bonus that might be yours for the taking isn’t very smart.

To Qualify:

  • You must be 25 or older but younger than 65
  • You cannot file married filing separately
  • You cannot have investment income over $3,150
  • If you made $43,998 ($49,078 married filing jointly) and have three or more qualifying children then you can get up to a $5,751 credit
  • If you made $40,964 ($46,044 married filing jointly) and have two qualifying children then you can get up to a $5,112 credit
  • If you made $36,052 ($41,132 married filing jointly) and have one qualifying child then you can get up to a $3,094 credit
  • If you made $13,660 ($18,740 married filing jointly) and no qualifying child then you can get up to a $464 credit

Many people make the mistake of thinking self employed people don’t qualify, but they do! Don’t join the ranks of those that think they probably don’t qualify, do a quick check.

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