What is the Earned Income Tax Credit? | Do You Qualify For It?

The earned income credit (EIC) is a tax credit that helps certain U.S. taxpayers with low earned incomes to report for the tax year. The EIC reduces the amount of tax owed on a dollar-for-dollar basis and may result in a refund to the taxpayer if the amount of the credit is greater than the amount of tax owed.

In this video, I will be answering the following 4 questions

1. What is it?
2. How much is the credit worth?
3. Who is eligible?
4. How do you claim the credit?

IRS Publication 596 Earned Income Credit (EIC): https://www.irs.gov/pub/irs-pdf/p596.pdf

IRS Schedule EIC: https://www.irs.gov/pub/irs-pdf/f1040sei.pdf

#taxtips​ #earnedincometaxcredit​ #eitc

Please note that this video is for information purposes only and is not intended to provide or relied upon for tax, legal, or accounting advice. Please consult your own CPA, tax advisor, legal and accounting advisors.

Видео What is the Earned Income Tax Credit? | Do You Qualify For It? канала Stephen Lee CPA