Can I take the Earned Income Tax Credit?
If you were married filing jointly and earned less than $52,427 ($46,997 for individuals, surviving spouses or heads of household) in 2014, you may qualify for this tax credit, or even for a refund check. It's complicated, but the Earned Income Tax Credit (EITC) is worth exploring if you or someone you know has modest earnings.
- The credit reduces any federal income tax you owe, dollar-for-dollar.
- If the credit completely eliminates your tax bill, and some credit is still left over, you can actually get a cash refund for the remaining amount.
To help you find out if you qualify, TurboTax asks simple questions so you can get the largest possible credit.