My accountant used it in my tax return.
What is earned income credit?
It is a credit amount given to you in your federal tax return for making below a certain qualified income.. your qualifications for this credit increase with 1 or more dependents, but some can qualify for the credit if they are low income without dependents.. the figure is based on your income for the year. Best Wishes!
What is earned income credit?
Probably the coolest credit ever!! Last year my wife was in grad school and she had a $18,000 tax free grant for her program. I finished college as well and worked for half the year. We also had a kid in November. I paid around $3000 in employment taxes but because of the baby, being married, low income, and the earned income credit, I got $4500 back!
What is earned income credit?
It is a credit for low income people that (in theory) helps offset other taxes such as social security and medicare.
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