Music hello again this is Josh Alba yellow with a Yugo the creators of I Yugo tax the application that will change the way you file your taxes say goodbye to your tax preparer complex applications and most importantly say goodbye to fake free and upgrades if you find this show helpful don't forget to like it or leave us your comment subscribe to our You Tube channel but most important leave a request for a specific topic that you'll like us to cover in the future this is episode 4 of taxes are simple and today we will talk about the Earned Income Tax Credit the Earned Income Tax Credit EITC or AIC is a benefit for working people with low to moderate income to qualify you must meet specific requirements and file a tax return the Earned Income Tax Credit reduces the amount of taxes you owe any may give you a refund once again to qualify you need to file a tax return even if you generally are not required to do so you also have to have earned income within a certain range for your filing status and either have at least one qualifying child or meet the requirements for workers without modifying children first let's figure out if you Elise have one qualifying child by entering some zip questions number one the relationship your son daughter adopted child stepchild foster town great child brother sister half-brother half-sister stepbrother stepsister niece or nephew man that was a lot but next question your answer is the age at the end of the year was this child younger than you number than 19 or younger than 24 if a full-time student remember there is no age limit if your child was permanently and totally the same next is...
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Publication 596 for 2025 Form: What You Should Know
It also helps you learn the rules of the EIC. If your federal earned income was lower than the average of your wages in 2025 for two of the four types of income or earnings (Wages, tips, other) you may qualify for the credit. You can find examples of the credit on the IRS site. For information on the federal earned income tax credit on the site, go to and the section for 2017. Read about EIC/ETC, how the credits apply, when you can apply, the impact of increased taxes in 2018, the 2025 income limitation and the income limitation for 2018. Read Publication 596, Earned Income Credit, and IRS.gov information. You will also need the IRS Publication 15-A How To: Find and Use Tax Credits. If you are eligible for a credit under this section, you must use the tax return for which you submitted paper forms. 2018, Tax year for which you filed a federal Income Tax Return, you had wages that paid the average Federal income tax. You didn't have wages that paid the average Federal income tax, but you had other forms of earned income that paid the average Federal income tax. You can choose to claim this credit, even if you did not file a Form 1040 or Form 1040A, or other return. Example. For 2018, you received annual 12,000 from a self-employed retirement account (ERA). You paid 4,000. The 4,000 is the earned income of the year. Tax year is 2018. The federal earned income tax credit (ETC) is 5,300. You can claim 2,800 of it because other forms of earned income also qualified for the credit. Your total earned income for 2025 is 18,000. What is your federal earned income for 2018? Â 19,000 12,000 (Income tax refund) 2,800 6,000 4,000 3,000 6,000 12,000 (Total ETC) 12,000 You may not be eligible for the ETC, but you may be eligible for the Additional Child Tax Credit. Example.
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