Up To $7,000 Earned Income Tax Credit— Here’s How You Can Claim Them

Up to $7,000 in Earned Income Tax Credits (EITC) will be issued until the end of February. In this article, read and find out how to claim the EITC!

Earned Income Tax Credit [Photo: Prosperity Now]

According to Barrera, when applying for tax credits provided by the IRS, taxpayers can claim for the Earned Income Tax Credit (EITC). The EITC is a tax credit intended for individuals and families with low incomes. Recipients of EITC can receive tax credits of almost $7,000. However, the exact amount to be received by each recipient is based on their situation or that of their family. This situation involves their annual income or the number of children they have.

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Requirements to Claim EITC

An article on the H&R Block says that to be able to claim the EITC, a taxpayer must have worked and earned an income of less than $59,187. In the tax year 2022, they must have an investment income of less than $10,300. They must also have a valid Social Security number by the deadline of the 2021 tax returns. In addition, they must be a U.S. citizen or a resident alien for the whole year. Unfortunately, the taxpayer cannot file a Form 2555 or the Foreign Earned Income. The EITC will be issued until the end of February. However, the exact date of issuance is based on the date the taxpayer made a declaration.

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