Financial Planning for Generation X & Y Women
 
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Expert Q&A Archive

03/16/2010
What is the EITC for two qualifying children?
I wanted to confirm that the Earned Income Tax Credit for two qualifying children is $5,028, and that to get it you must file an income tax return?
Delores Lenzy - Jones, CPA, CIA:
expert info »
You must file a tax return to determine your earned income credit. [The amount is] dependent on overall income.
Joan Koonce, Ph.D:
expert info »
The maximum amount that can be received for the Earned Income Tax Credit (EITC) if a person has two qualifying children is $5,028. How much a person qualifies for is based on their earned income and adjusted gross income. Yes, a tax return has to be filed. If a person qualifies, they can receive a portion of their EITC payment throughout the tax year. To do this, they need to fill out a form with their employer.
 

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