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To claim the Earned Income Tax Credit (EITC), you must have what qualifies as earned income and meet certain adjusted gross income (AGI) and credit limits for the current, previous and upcoming tax years. Use the EITC tables to look up maximum credit amounts by tax year.
Page 1 of 26 11:14 - 16-Dec-2021 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. Dec 16, 2021 Cat. No. 24327A TAX AND EARNED INCOME CREDIT TABLES This booklet only contains Tax and Earned Income Credit Tables from the Instructions for Form 1040 (and 1040-SR).
The earned income credit (EIC) is a tax credit for certain people who work and have earned income under $57,414. A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC may also give you a refund. Can I Claim the EIC? To claim the EIC, you must meet certain rules. These rules are summarized in Table 1.
The maximum Earned Income Tax Credit (EITC) in 2021 for single and joint filers is $1502, if the filer has no qualifying children (Table 5). The maximum credit is $3,618 for one child, $5,980 for two children, and $6,728 for three or more children.
The earned income credit (EIC) is a refundable tax credit for most people who work but do not earn high incomes. The purpose of the EIC is to reduce the tax burden and to supplement the wages of working families whose earnings are less than the maximums for their filing status.
See the earned income and adjusted gross income (AGI) limits, maximum credit for the current year, previous years and the upcoming tax year.
You can use this EIC Calculator to calculate your Earned Income Credit based on the number of qualifying children, total earned income, and filing status. Provide the following information and then click "Calculate My EIC" to retrieve results: Select your filing status from the drop-down list.
The EIC worksheets and tables can be accessed on IRS Instruction 1040 1040 and 1040-SR Instructions, pages 46-56. You can view the EIC checklist and tables on IRS Publication 596 Earned Income Credit (EIC), pages 30-39.
1040 TAX AND EARNED INCOME CREDIT TABLES - Introductory Material; 1040 TAX AND EARNED INCOME CREDIT TABLES - Main Contents. Tax Table; EIC Table
Once you determine that you qualify for the credit, use the Earned Income Credit table found in the instructions for Form 1040 to look up your income and find out the amount of credit you're entitled to.