EARNED INCOME CREDIT

The Earned Income Credit is a refundable tax credit for low-income workers who have earned income throughout the year. This credit is available to taxpayers, regardless of whether or not they have children.

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No Qualifying Children

For 2018, the maximum credit amount you qualify for if you do not have any qualifying children is $519.

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One Qualifying Child

For 2018, the maximum credit amount you qualify for if you have one qualifying child is $3461.

Two Qualifying Children

For 2018, the maximum credit amount you qualify for if you have two qualifying children is $5,716.

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Three or More Qualifying Children

For 2018, the maximum credit amount you qualify for if you have three or more qualifying children is $6,431.

Combat Pay

Unlike when calculating your federal income tax, you can include any combat pay you received during the year as earned income when calculating the Earned Income Credit (EIC). To ensure you receive the best tax return, try calculating your EIC both ways: including and not including any combat pay you’ve received as earned income, then file accordingly.

Fraudulent or Reckless Claim

It’s extremely important that you claim your Earned Income Credit (EIC) correctly. In the event the IRS determines that you have previously claimed the EIC fraudulently or recklessly, you will not be eligible for the Earned Income Credit for 10 years (if it was deemed a fraudulent claim) or two years (if it was deemed a reckless claim).