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What Is Earned Income Tax Credit (Eitc/eic)? - Illinoisgov: What You Should Know
The Earned Income Tax Credit (ETC) — IRS What are the eligibility requirements for the Credit? In order to be eligible for the tax credit, you must: 1) Be the employee of a United States employer that (a) pays you wages, compensation, tips, or other compensation (including amounts includible in gross income) that is not includible in gross income because of the employment of that employee as an executive, special, or managerial employee; and (b) includes (and qualifies to deduct) an amount based on your total paid expenses for the workweek. You may not claim the credit if the person is: a. A member of the armed forces outside the United States or a uniformed or civilian employee of Department of Defense; or i. An employee in the exempt domestic relations, family, or household employees, or exempt foreign service category, of a member of the Armed Forces or of the Department of Defense. b. A student enrolled in a tuition and fees-based student aid program or program under Part A of Title IV-D of the Higher Education Act of 1965, as amended, if you are: i. An employee in the exempt domestic relations, family, or household employees, or exempt foreign service category, of a member of the Armed Forces or of the Department of Defense. ii. An employee of a United States-controlled corporation that does not pay any tax on the excess of compensation over its gross income to your employer (as defined above). 4) Work at a nonresident alien (or a resident alien of a foreign country) who pays you wages, compensation, tips, allowances, or compensation that is taxable to you. The EIC amount you can claim depends on whether you meet one or both of the following criteria: a. Are a resident of the state for 90 percent or more of the taxable year; and b. Earned income: a. Is subject to the tax to you. b. (1) Your net earnings from self-employment, including taxable interest and dividends, were not more than 4,050 for the taxable year. (2) Your wages, compensation, tips, allowances, or compensation, other than taxable interest and dividends, were not more than 800 for the taxable year for you and your spouse if the household income for the preceding taxable year was less than 15,300 for you and your spouse. c.
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