Can i get eic

Easily calculate your tax rate to make smart financial decisions Get started. Estimate your self-employment tax and eliminate any surprises Get started. Know what dependents credits and deductions you can claim Get started. Know what tax documents you'll need upfront Get started. Learn what education credits and deductions you qualify for and claim them on your tax return Get started. The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice.

Skip To Main Content. Here are five facts about the EITC all taxpayers should know. Eligibility is limited to low-to-moderate income earners. The general eligibility rules for the EITC are: Taxpayers must file as individuals or married filing jointly. If married, you, your spouse and your qualifying children must have valid Social Security numbers.

You must also be at least 19 or older with no upper age limit. However, if you are at least a part-time student then you must be at least 24 years old. Qualifying former foster children and homeless youth must be at least 18 years old. Self-employed still counts Many filers, especially self-employed individuals, fail to take advantage of credits because they think they are ineligible.

The IRS considers all income that is earned eligible for the credit. That includes: Wages Salaries Tips Union strike benefits Long-term disability benefits received prior to minimum retirement age Net earnings from self-employment Gross income received as a statutory employee an independent contractor under common law rules Types of income that do not qualify as earned income for the credit include: Child support Retirement income Social Security benefits Unemployment benefits Alimony Pay received for work while in prison.

Eligibility fluctuates Taxpayers should pay attention to their EITC eligibility every filing year as tax laws and personal tax situations can change. Changes that could affect your eligibility for the EITC can include a new job, unemployment, loss of an annual bonus, a change in marital status, or a change in a spouse's employment situation.

Eligibility for the EIC is fairly straightforward: You must have earned income during the tax year in question. You cannot claim the EIC if your status is married filing separately. You, your spouse, and any qualifying children must all have valid Social Security Numbers. To claim the EIC on your U. If you have a child and are interested in the child tax credit, the child must have lived with you in the United States for more than half the year.

Special rules apply to military personnel stationed outside the United States. I'm Living In This field is for validation purposes and should be left unchanged.

Share via. It reduces the amount of tax you owe. The Earned Income Tax Credit may also give you a refund, even if you do not owe any tax. The child must meet the relationship, age and residency tests. If you take the EIC even though you are not eligible and it is determined that your error is due to reckless or intentional disregard of the EIC rules, you will not be allowed to take the credit for 2 years even if you are otherwise eligible to do so.

If you fraudulently take the EIC, you will not be allowed to take the credit for 10 years and may also owe penalties. Those contacted should respond immediately to ensure they receive the EITC they deserve. Questions What is E-File?