Earned Income Tax Credits for 2024 - Step-by-Step Example

The Earned Income Tax Credit (EIC) is a federal tax credit that helps taxpayers lower their federal tax liability each year. The credit is available to mostly lower-to-middle-income households, particularly those with children. In this example, we have a single taxpayer filing as head of household with two dependent children, ages 9 and 6. She is eligible for the EIC. If claiming an EIC with qualifying children, the taxpayer must include a completed Schedule EIC with their Form 1040. IRS Publication 596: https://www.irs.gov/forms-pubs/about-... More videos on EIC:    • Playlist   Child Tax Credits:    • Child Tax Credits (CTC)   Form 1040 Tutorials:    • Form 1040 (Individual Income Tax) Tut...   For a larger database of tutorials, please visit our website and search for your question: https://knottlearning.com/ DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials. #EarnedIncomeTaxCredit #TaxCredits