earned income credit
Low-wage tax benefit
The earned income credit, also called the earned income tax credit or EITC, is a tax benefit in the United States designed to help low- and moderate-income workers.
It reduces the amount of tax owed and may result in a refund even if the taxpayer owes no tax.
The credit amount varies based on income, filing status, and number of qualifying children.
We qualified for the earned income credit this year because our household income dropped.
- public assistanceGovernment help for poor
- Form 1040Federal income tax return
- tax refundReturned excess withholding
- working poorEmployed but below comfort
- poverty lineIncome cutoff marking need
poverty alleviation · filing status · welfare reform · tax return · tax bracket · tax credits · withholding · payroll taxes · progressive taxation · social security benefits · unemployment benefits · children · working families · worksheet · threshold · dependent · paycheck · direct deposit
- incomesalary, earnings, wages, pay, net earnings
- Social Programswelfare office, unemployment benefits, disability benefits, TANF, family allowances
- Federal TaxesIRS, tax return, tax refund, Form 1040, 1040
- taxationtax, sales tax, tax return, tax refund, tax code
- Federal ProgramsSocial Security, Medicare, Medicaid, food stamps, SNAP
- government aidfood stamps, SNAP benefits, housing vouchers, unemployment benefits, TANF
earned income credittax liability
Money owed to government
tax penalty · additional tax · tax deduction · itemized deduction · tax burden