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What is EIC?

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What is EIC?


EITC (or EIC), 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.

You must have income to qualify for this credit and there are limitations.  Please refer to the instructions at 


What is Earned Income?

Earned income includes all the taxable income and wages you get from working for someone else or you own or run a business or farm.

Taxable earned income also includes:

  • Wages, salaries, and tips
  • Union strike benefits
  • Certain disability benefits received before you reach minimum retirement age
  • Net earnings from self-employment

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Article Details
Views: 1506 Created on: Jun 15, 2013
Date updated: Dec 03, 2020
Posted in: Credits

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