The Internal Revenue Service (IRS) reminds American taxpayers about the Earned Income Tax Credit (EITC). In general, this tax credit is for both low-income workers and moderate-income workers.
What is more, they must have a qualifying child. If they meet these two essential requirements, they should check their eligibility. There are a few more IRS rules to qualify.
Some taxpayers may even qualify for the EITC if they cannot claim children on their 2023 tax return says the IRS. Here are the basic rules to be eligible for the EITC in the USA.
EITC ELIGIBILITY & IRS RULES
To qualify for the EITC, you must have worked. Then, the income you earned must be below $63,398. What is more, you must have an income investment under 11,000 dollars in the 2023 tax year. But the rules are not over yet.
In third place, you must have a Social Security Number that is valid during the tax season. Being a resident alien or a U.S. citizen is the only way to qualify. So you must have been a citizen all year.
Bear in mind that you must not file a Form 2555. That has to do with Foreign Earned Income. Those who are separated or have no qualifying children must also meet special rules.
WHO HAS SPECIAL QUALIFYING RULES TO GET EITC?
As a matter of fact, there are 3 groups of taxpayers who have special qualifying rules states the Internal Revenue Service. So, according to the IRS, these 3 groups are:
- Taxpayers and their relatives with a disability.
- Military members.
- Clergy members.
To really know you qualify for this tax credit, the IRS recommends using the Qualification Assistant tool. All you have to do is answer a few questions at https://apps.irs.gov/app/eitc.
