What is the earned income tax credit?

The Earned Income Tax Credit (EITC) is a program in Washington that provides a tax break to working families with low or moderate income. It is a federal tax credit that is available to individuals and families who fall within certain income limits. EITC is designed to help low-income and moderate-income workers reduce the amount of taxes they owe. It may also give qualified individuals and families a refund even if they don’t owe taxes. To qualify for the EITC, you must meet certain eligibility requirements. First, you must have earned income from employment or self-employment, such as wages and salaries. Additionally, the amount of your earned income and the number of dependents you claim will determine how much you’re eligible to receive in benefits. The Internal Revenue Service has a tool to help determine if you may be eligible for the EITC. It’s called the EITC Assistant, and it can help you figure out if you qualify. EITC is a great program that helps to make it easier for low-income and moderate-income individuals and families to pay their taxes, and it helps to reduce poverty. It’s important to understand the qualifications and restrictions, so be sure to do your research and talk to a tax specialist if you have any questions.

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What is the earned income tax credit?

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