Are You or Someone You Know Eligible to Claim Tax Credits of Up to $6,143? - PA 2-1-1 Southwest, powered by United Way

Are You or Someone You Know Eligible to Claim Tax Credits of Up to $6,143?

Are You or Someone You Know Eligible to Claim Tax Credits of Up to $6,143?

EITC, Earned Income Tax Credit, is a benefit for working people who have low to moderate income. A tax credit means more money in your pocket. It reduces the amount of tax you owe and may also give you a refund. But first, you must file and claim the credit to receive it! To find free tax preparation sites near you, click here.

Even if you missed your opportunity to benefit for tax year 2013, the good news is that the EITC can be claimed retroactively for up to three years.

To claim EITC on your tax return, you must meet the following rules:

  • You, your spouse (if you file a joint return), and all others listed on Schedule EIC, must have a Social Security number that is valid for employment
  • You must have earned income from working for someone else or running or operating a farm or business
  • Your filing status cannot be married filing separately
  • You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return
  • You cannot be a qualifying child of another person
  • You cannot file Form 2555 or Form 2555 EZ (related to foreign earned income)
  • You must meet the earned income, AGI and investment income limits (income limits change each year), see EITC Income Limits for the tax year amounts
  • And you must meet one of the following:
    • Have a qualifying child (see who is a qualifying child below)
    • If you do not have a qualifying child, you must:
      • be age 25 but under 65 at the end of the year,
      • live in the United States for more than half the year, and
      • not qualify as a dependent of another person.

Income guidelines for tax year 2014:

Individuals: 

  • $14,590 with no qualifying children
  • $38,511 with one qualifying child
  • $43,756 with two qualifying children
  • $46,997 with three or more qualifying children

Married couples filing jointly:

  • $20,020 with no qualifying children
  • $43,941 with one qualifying child
  • $49,186 with two qualifying children
  • $52,427 with three or more qualifying children

Maximum refunds for tax year 2014:

  • $496 with no qualifying children
  • $3,305 with one qualifying child
  • $5,460 with two qualifying children
  • $6,143 with three or more qualifying children