Tax Credits | TAX PREP

Keep more of what you earn.

What are tax credits?

When you attend your tax appointment, the IRS-trained and certified tax preparer will ensure you receive all the tax credits you may qualify for, including Earned Income Tax Credit (EITC), the Child Tax Credit, and any other credits, of which you may not be aware.

EITC is a tax credit for people who work and earn low-to-mid range incomes. EITC can reduce your taxes and result in a refund. It is a significantly large tax credit and many people often do not know they qualify. Even if you do not owe income tax, you can receive the credits. If you worked in 2011 — full-time or part-time — you may qualify. Immigrants who work and meet other guidelines may also qualify.

Note: Tax credit refunds will not count as income when you apply for or renew benefits like SNAP (food stamps), SSI, Medicaid, cash assistance, or public housing.

EITC Eligibility and Refund

Income and family size determine the amount of the tax credit received. To receive the EITC tax credit, income must be less than:

$43,998 ($49,078 married filing jointly) with three or more qualifying children
$40,964 ($46,044 married filing jointly) with two qualifying children
$36,052 ($41,132 married filing jointly) with one qualifying child
$13,660 ($18,740 married filing jointly) with no qualifying children

Tax year 2011 maximum credit amount

$5,751 with three or more qualifying children
$5,112 with two qualifying children
$3,094 with one qualifying child
$464 with no qualifying children

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