EARNED INCOME TAX CREDIT (EITC) TAX YEAR 2017

Earned Income Tax Credit is a tax benefit for people who worked full or part-time. This year there are new and expanded tax credits for low-moderate income workers.

You are:

and you earn LESS than:

then you may qualify for a credit or refund UP to:
A married couple w/ 3 or more
qualifying children		 $53,930 $6,318
Unmarried w/ 3 or more
qualifying children		 $48,340 $6,318
A married couple w/ 2
qualifying children		 $50,597 $5,616
Unmarried w/ 2
qualifying children		 $45,007 $5,616
A married couple w/ 1 qualifying
child		 $45,207 $3,400
Unmarried w/ 1
qualifying child		 $39,617 $3,400
A married couple w/no qualifying children $20,600 $510
Unmarried w/ no qualifying
children		 $15,010 $510

Notes: Investment income must be $3,450 or less to qualify for the EITC. Married individuals MUST file jointly to qualify.

 

OTHER COMMON TAX CREDITS TO BE AWARE OF:

  • Child Tax Credit
  • Additional Child Tax Credit
  • Child and Dependent Care Credit
  • Retirement Savings Contributions Credit
  • Premium Tax Credit

NOTE:  IF YOU ARE MARRIED FILING SEPARATELY FROM YOUR SPOUSE, you  CANNOT claim the Earned Income Tax Credit, the Education Credit, or the Premium Tax Credit (unless you qualify for an exemption as an abused spouse)