If you are like millions of Americans, you work hard but you dont earn a high income, and want to keep more of what you earn. The Earned Income Tax Credit (EITC) is a credit for people who earn low-to-moderate incomes. EITC can reduce your taxes, and can mean a refund. In simple terms, working families and individuals may keep more of what they work for.

Will you qualify for EITC this year?

You must meet the following EITC requirements:

* Must have a valid Social Security Number
* You must have earned income from employment or from self-employment.
* Your filing status cannot be married, filing separately.
* You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return.
* You cannot be a qualifying child of another person.
* If you do not have a qualifying child, you must:
o be age 25 but under 65 at the end of the year,
o live in the United States for more than half the year, and
o not qualify as a dependent of another person
* Cannot file Form 2555 or 2555-EZ (related to foreign earn income)

Labels: Earned Income Tax Credit