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The Earned Income Tax Credit
The Earned Income Tax Credit, or EITC, reduces the tax burden of working families. The EITC is a refundable tax credit, so if the credit that you qualify for is more than what you owe in taxes, you get the additional amount back in your tax refund.
To get the EITC when you file your taxes, you have to meet some requirements:
- You must have earned income for a job
- You can’t make more than a certain amount of money
This ensures that the EITC helps only the people who need it most: working individuals and families, especially those with children.
