Tag Archives: EITC
If you want to claim the Earned Income Tax Credit, you cannot be a qualifying child of any other taxpayer. You’re considered a qualifying child if you’re: a son, daughter, stepchild, foster child, or descendant of those a brother, sister, half-sibling, step-sibling, or a descendant of those AND You’re under the age of 19 at […]
— Read moreThe Earned Income Tax Credit requires that you aren’t a dependent of another person if you wish to claim it. Single filers meet this test if box 6a on a Form 1040 or 1040A is checked, or if you don’t check the box listed as “You” on line 5 of a Form 1040EZ, and you […]
— Read moreThe Earned Income Tax Credit is available to taxpayers who are between the ages of 25 and 64. Only one person in a married couple who files jointly is required to meet the age test, but it doesn’t matter which spouse. If neither you, (or your spouse if married) are between the age of 25 […]
— Read moreYou cannot be a qualifying child of another taxpayer if you want to claim the Earned Income Tax Credit on your own tax return. A qualifying child is one who meets all of the following requirements: Is a son, daughter, stepchild, foster child, or a descendant of any of them Is a brother, sister, half-brother, […]
— Read moreA big part of the Earned Income Tax Credit relates to how many qualifying children, if any, you have. In some cases, a qualifying child may meet the requirements to be claimed by more than one person. If this occurs, only one taxpayer can claim the child. That means that in order to claim the […]
— Read moreOnce you’ve met the first seven rules to qualify for the Earned Income Tax Credit, there a few more you’ll have to be aware of and use to determine your eligibility. A large part of the EITC relates to whether or not you have a qualifying child. There are four requirements that your child must […]
— Read moreIt may seem obvious, as this rule is stated in the name of the credit, but in order to claim the Earned Income Tax Credit, you must have earned income from working. Couples who are married will meet this requirement if they file a joint return and at least one spouse has income from working. […]
— Read moreOne important requirement that must be met if you wish to claim the Earned Income Tax Credit relates to your investment income. Any income made from investments has to be $3,400 or less, as taxpayers with more than this limit are not eligible to claim the EITC. Investment income is listed on a Form 1040EZ […]
— Read moreThe Earned Income Tax Credit is only available to U.S. Citizens or resident aliens. You must have citizenship or residency for the entire tax year, as those who have nonresident alien status for any portion of the year are not able to claim the EITC, unless they file jointly with their spouse. However, one spouse […]
— Read moreIn order to claim the Earned Income Tax Credit (EITC) as a married couple, you generally are required to file a joint return. Therefore, you can’t use the “married, filing separately” status if you want to claim the EITC. In some cases, your spouse may have lived separately from you for the final six months […]
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