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 2019, the credit is worth a maximum of:
$6,557 with three or more qualifying children
$5,828 with two qualifying children
$3,526 with one qualifying child
$529 with no qualifying children
In order to qualify for the credit, your adjusted gross income (AGI) must be less than:
$50,162 ($55,952 married filing jointly) with three or more qualifying children
$46,703 ($52,493 married filing jointly) with two qualifying children
$41,094 ($46,884 married filing jointly) with one qualifying child
$15,570 ($21,370 married filing jointly) with no qualifying children
Your total investment income must also be $3,600 or less for the year.
See the IRS website EITC Central for more information.