Qualifying for Earned Income Tax Credit: What you need to do
EITC Awareness Day is Jan. 31
Today is Earned Income Tax Credit Awareness Day.
According to Jackson Hewitt Tax Services, 44 percent of people who make less than $40,000 a year don’t know they may qualify for EITC.
You could be leaving thousands of dollars on the table. According to the IRS, to qualify for EITC you must have earned income from working for someone or from running or owning a business or farm and meet basic rules. And, you must either meet additional rules for workers without a qualifying child or have a child that meets all the qualifying child rules for you.
The IRS says you can use Publication 5334, Do I Qualify for EITC? to see if you are eligible for EITC.
Workers must file a tax return and claim the credit to receive it.
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