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Here is the most current EIC Earned Income Credit Table. The credit maxes out at 3 or more dependents. You will not be eligible if you earned over $51,567.00 or if you had investment income that exceeded $3,100.00.

Your credit should fall somewhere with-in these brackets based on your income and qualifying children. As you can see by the chart below, the eitc is a hefty tax credit you don’t want to miss out on.

  Dependents       Maximum Credit          Adjusted Gross Income

0

              $487.00          $14,340.00
(Jointly $19,680.00)

1

$3,250.00

         $37,870.00
(Jointly $43,210.00)

2

$5,372.00

         $43,038.00
(Jointly $48,378.00)

  3+

$6,044.00

         $46,227.00
(Jointly $51,567.00)

How to Claim the Credit

If you qualify for the EITC, you need to file a tax return to claim your credit. The IRS is working with nonprofit groups and public and private sector partners to help low and middle-income taxpayers get access to free online tax preparation so they claim this and other tax credits and deductions.

Your credit amount will vary depending on many different factors such as income, family size, and filing status. The maximum amount a familyearned income credit table can receive is just over $6,00.00. That would be if you are married filing jointly with three or more children.

You can get an estimate of your credit by using the online calculator. The calculator will guide you through the process and make sure you not only get the largest EITC but also any other credits you are eligible for.

There are some other factors that could affect the amount of your credit. Combat pay would be one of them. When it comes to combat pay you can either claim all of it or none of it. If that was your only income you may need to in order to qualify but if you had other income you may choose to exclude this pay to keep you within the income guidelines.

You may also receive a smaller credit or none at all if you opted to receive an advance on your EITC or if you intentionally had an error in previous filing years you may be denied all together. If you think you are eligible for some amount of the credit then you should go ahead and claim the credit and get a bigger tax refund.

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