TaxAct® will automatically calculate the earned income credit based on the information entered in your return. If you qualify for the credit, the amount will be included as a Payment on your Federal Tax Summary. You must enter your income and dependent information before the credit can calculate.
To review your earned income credit information:
The Earned Income Tax Credit (EITC or EIC) is a refundable income tax credit for working individuals and families with modest incomes. As a refundable credit, the EIC becomes a tax refund when the amount of the credit exceeds the amount of tax owed.
For 2017, the credit is worth a maximum of:
$6,318 with three or more qualifying children
$5,616 with two qualifying children
$3,400 with one qualifying child
$510 with no qualifying children
In order to qualify for the credit, your adjusted gross income (AGI) must be less than:
$48,340 ($53,930 married filing jointly) with three or more qualifying children
$45,007 ($50,597 married filing jointly) with two qualifying children
$39,617 ($45,207 married filing jointly) with one qualifying child
$15,010 ($20,600 married filing jointly) with no qualifying children
Your total investment income must also be $3,450 or less for the year.
See the IRS website EITC Central for more information.