IRS Tax Tip 2016-09: The Earned Income Tax Credit: Often Missed
Internal Revenue Service (IRS) sent this bulletin at 01/29/2016 09:00 AM EST
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Issue Number: IRS Tax Tip 2016-09Inside This IssueThe Earned Income Tax Credit: Often Missed The Earned Income Tax Credit has helped workers with low and moderate incomes get a tax break for 40 years. Yet, one out of every five eligible workers fails to claim it. Here are some things you should know about this valuable credit:
o If you are married and file a separate return you do not qualify for EITC. o You must have a Social Security number that is valid for employment for yourself, your spouse, if married, and any qualifying child listed on your tax return. o You must have earned income. Earned income includes earnings from working for someone else or working for yourself. o You may be married or single, with or without children to qualify. If you don’t have children, you must also meet age, residency and dependency rules. If you have a child who lived with you for more than six months of 2015, the child must meet age, residency, relationship and the joint return rules to qualify. o If you are a member of the U.S. Armed Forces serving in a combat zone, special rules apply.
For more on EITC, see IRS Publication 596, Earned Income Credit. It’s available in English and Spanish on IRS.gov. Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on IRS.gov. Additional IRS Resources: Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |