Category Archives: Earned Income Credit

Posts related to Earned Income Credit.

2018 Earned Income Tax Credit EITC

The 2018 Earned Income Tax Credit has been announced. The maximum earned income tax credit amount for 2018 is $6,444 for taxpayers filing jointly who have three or more qualifying children, up from $6,318 for 2017. These 2018 EITC amounts are different because the IRS adjusts the amounts for inflation each year. Remember that these… Read More »

Delayed Earned Income Tax Credit Refund in 2017

The earliest taxpayers can receive the 2016 earned income tax credit in 2017 will be on February 15. Taxpayers who claim the 2016 Earned Income Tax Credit or Additional Child Tax Credit early during tax season may not be receiving their refunds as early as they expect. The IRS has increased security around the issuance… Read More »

2017 Earned Income Tax Credit EITC

The IRS is going to announce the 2017 Earned Income Tax Credit soon. Taxpayers who are eligible for the 2017 EITC may receive a substantial benefit. To summarize, the EITC, Earned Income Tax Credit, is a benefit for working people who have low to moderate income. It supplements wages by rewarding people who work.  It… Read More »

Claiming EITC for Prior Tax Years

You can claim the EITC from prior tax years if you missed it previously. It is essential to understand a few things. The income limits for the Earned Income Credit have been adjusted for 2015, so even if you didn’t qualify for the EITC in the past, you may be able to claim it this year.… Read More »

Is child support considered earned income when calculating the earned income credit?

Is child support considered earned income when calculating the earned income credit? No, for purposes of calculating the earned income credit, child support is not considered earned income. Examples of items that are not earned income include interest and dividends, pensions and annuities, social security and railroad retirement benefits (including disability benefits), alimony and child… Read More »

New York Earned Income Tax Credit EITC Claim

For tax years beginning on or after January 1, 2006, and before January 1, 2017, New York State full-year residents who are noncustodial parents and pay child support may be eligible for the noncustodial parent New York State earned income credit. This credit may be claimed instead of the New York State earned income credit.… Read More »

IRS 2016 Income Tax Brackets and Rates

What are the 2016 income tax rates? Each year, the IRS uses the Consumer Price Index (CPI) to calculate the past year’s inflation and adjusts income thresholds, deduction amounts, and credit values accordingly. For 2016 income tax brackets, inflation was relatively low and they were not increased much more past the 2015 income tax brackets. The… Read More »

2016 Earned Income Credit Amount

The IRS announced the 2016 Earned Income Tax Credit amounts which have some small changes from the 2015 EIC.  In a statement, they noted that for tax year 2016 the maximum Earned Income Credit (2016 EITC) amount is $6,269 for taxpayers filing jointly who have 3 or more qualifying children, up from a total of $6,242… Read More »