En esta noticia
In the United States, the Internal Revenue Service (IRS) makes available to American taxpayers a wide variety of tax credits and deductions, which they can claim as long as they comply with their tax obligations and the conditions of each program.
One of the most claimed credits by Americans is the Earned Income Tax Credit, which is aimed at low- and middle-income workers and families, granting refunds that vary depending on the number of children claimed.
How does the Earned Income Tax Credit work?
The earned income credit has amounts that vary depending on how many qualifying children the taxpayer claiming the tax benefit has:
- No children: 649 dollars
- With 1 child: 4,328 dollars
- With 2 children: 7,152 dollars
- With 3 or more children: 8,046 dollars
It is a 100% refundable credit for those who meet the requirements and are eligible for it.
Who can access the Earned Income Tax Credit?
This credit is available to those who meet certain requirements such as:
- Having income from work
- Having a valid Social Security number
- Meeting the income limits established by the IRS
- Not filing certain foreign income forms
Why can your claim for the Earned Income Tax Credit be rejected?
The IRS can reject any claim for the EITC:
- If the child does not meet the requirements
- If another person claimed the same child
- If the name or Social Security number (SSN) is incorrect
- If the wrong filing status was chosen
- If the income was reported incorrectly
- If the program income limits are not met
- If investment income exceeds the maximum allowed
- If the taxpayer or the child do not have a valid SNN issued before the filing deadline