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About Form Publication 596

Form Publication 596 is a guide for the Earned Income Tax Credit (EITC), a tax credit available to low and moderate-income individuals and families. This form explains the eligibility requirements for claiming the credit, how to calculate the amount of the credit, and how to file for the credit on your tax return. Taxpayers who have earned income may need to file Form Publication 596 if they meet certain income and other eligibility requirements. The form is especially important for taxpayers who have children or other dependents because the amount of the credit is based on the number of qualifying children in the household. It is also important for those who have earned income and want to claim the credit on their tax return.

What Is Irs Publication 596?

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Video instructions and help with filling out and completing Form Publication 596

Instructions and Help about Form Publication 596

Yep what'd it do YouTube in this video we'll learn about the 2018 updates to the Earned Income Tax Credit that and more coming up hey what's up guys this is Eli with build your tomorrow a town dedicated to everything and anything personal finance we believe in spending less than we earn saving money paying down debt making sound investments but most importantly guys we believe in investing in ourselves so if you are new here consider subscribing alright guys well the first thing to know about the Earned Income Tax Credit is that it's a credit that's specifically designed to help working-class families so if you're working and if you have a family then this credit is for you alright guys now the second thing to know about the Earned Income Tax Credit is that it reduces your tax liability dollar-for-dollar so if you have a tax liability of ten thousand dollars, and you get a credit of six thousand now you only owe four thousand dollars in taxes now let's see and let's hope fingers crossed and let's see if you qualify the 2018 income limits and credit amounts for the Earned Income Tax Credit are as follows if you're a single or head of household filer, and you have three kids, and you made less than forty-nine thousand two hundred and ninety-eight dollars then you qualify you also qualify if you have three kids if your filing status is married filing jointly, and you made it less than fifty-four thousand nine 198 dollars for this group of taxpayers the Earned Income Tax Credit is six thousand four hundred and forty-four dollars that's a nice chunk of change if you have two kids you're a single or head of household filer then the income limit is forty-five...