Earned Income Credit (EIC) is a credit given to working taxpayers that fall within a specific income bracket. Working taxpayers that qualify for the Earned Income Credit fall within an income range that is low to moderate. According to the Internal Revenue Service (IRS), the Earned Income Credit (EIC) can help bring down the tax you owe or increase your refund amount.
It’s easy to see if you qualify for the EIC. Taxpayers that qualify for the EIC typically:
– have lower earned income
– have children (although those with no children often qualify)
– have earned income from work or self-employment
– meet ALL requirements as outlined by the Internal Revenue Service (IRS)
As always, contact us if you have questions. The Stars and Stripes Tax Service team is versed and updated on the current tax laws and are here to help!