Wednesday, December 23, 2015

Who is eligible to claim earned income credit?

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Who is eligible to claim earned income credit?:


If filing...Qualifying Children Claimed
ZeroOneTwoThree or more
Single, Head of Household or Widowed$14,880$39,296$44,648$47,955
Married Filing Jointly$20,430$44,846$50,198$53,5


Investment income must be $3,400 or less for the year


Maximum Credit Amounts

The maximum amount of credit for Tax Year 2016 is:
  • $6,269 with three or more qualifying children
  • $5,572 with two qualifying children
  • $3,373 with one qualifying child
  • $506 with no qualifying children