Video: Who Qualifies for the 2015 Earned Income Tax Credit
Find out whether you qualify for the Earned Income Tax Credit by answering six yes or no questions. This video will help you get started with the Earned Income Credit (EIC) and help you get all the tax deductions and credits you qualify for.
Video transcript:
Hello, I’m Adrienne from TurboTax with important information about who qualifies for the 2015 Earned Income Tax Credit.
The Earned Income Tax Credit is designed for taxpayers with modest income and in 2015, can be worth up to six-thousand, two-hundred forty-two dollars, depending on your income and the number of children you have.
So do you qualify? Follow our yes/no checklist.
Number one: Does your income and family situation meet these guidelines? Yes or no?
If you, for instance, are married, filing jointly, and have three children, you may be eligible for the credit in 2015 if you and your spouse make fifty-three thousand, two-hundred sixty-seven dollars or less.
Looking further down the chart, you may also qualify as an individual with no children and an income of fourteen thousand, eight hundred twenty dollars.
Two: Is your investment income three-thousand, four-hundred dollars or less? If answered yes, you might be eligible.
Three: If you are married, do you plan to file jointly?
Four: Are you a U.S. citizen or resident, a non-resident alien married to a U.S. citizen, or a resident alien and filing a joint return?
Five: Does everyone involved have a valid Social Security number?
Six: Take a look at this chart. If you have a child, does your child fall into one of these categories?
If you answered yes to all of these questions, you may be qualified this year for the Earned Income Tax Credit.
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