If you are planning on taking advantage of the IRS’ Earned Income Tax Credit, read on to find out more. The experts at Optima Tax Relief review the EITC program and explain who qualifies.


Finance / Monday, February 17th, 2020

Since 1975, the Earned Income Tax Credit (EITC) program has helped low income families manage their tax responsibility to the IRS. While the EITC is often a point of political debate, and has been subject to numerous changes and waves of reform, it also offsets the financial burden related to paying taxes for those families that qualify. The experts at Optima Tax Relief reviews the latest iteration of the EITC, and explain what those that expect to qualify can expect come the fast approaching 2019 tax season.

What is the EITC?

Perceived by many financial and governmental experts as one of the most significant deterrents against poverty in our country, the Earned Income Tax Credit, along with the Additional Child Tax Credit (ACTC) provide additional tax benefits to low and moderate income generating households in the U.S.

How can I determine if I qualify?

The income requirements can change from year to year, along with the actual benefit amount, so be sure to confirm the latest updates with either the IRS or a professional tax expert. The IRS has a number of tools available to make it easy to determine if you or your household can qualify to receive either the Earned Income Tax Credit, or the Additional Child Tax Credit. You can review the official IRS EITC Income Limits, Maximum Credit Amounts and Tax Law Updates.

Where can I go for help with the EITC?

The IRS has a number of additional tools available to all taxpayers to help determine eligibility, including You can use Publication 5334, Do I Qualify for EITC? as well as the EITC Assistant  – which will aid you in determining your filing status, confirm qualifying children, program eligibility and benefit estimates.

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