The EIC/EITC is known as the Earned Income Tax Credit. This tax credit is available for those who have a low or moderate-income.
Those who qualify pay less in federal taxes and can claim the earned income credit when they file their tax returns.
Basic Requirements to Be Eligible
- You have to have a qualifying child, and they must have a social security number
- You cannot file married or file separately
- Your investment income should be no higher than $3,600
- You have to be a U.S.