The earned income credit (EIC) is a tax credit for certain people who work, have a Qualifying Child and have earned income under $43,279.
A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC usually gives you a refund.
What’s New
The Earned income amount has increased. Please see EIC Changes For 2009 for more information.
The maximum amount of income you can earn and still get the credit has increased.
You may be able to take the credit if your AGI is:
- $43,279 (48,279 married filing jointly) with three or more qualifying children
- $40,295 ($45,295 married filing jointly) with two qualifying children
- $35,463 ($40,463 married filing jointly) with one qualifying child
- $13,440 ($18,440 married filing jointly) with no qualifying children
Your adjusted gross income also must be less than the amount in the above list that
applies to you. For details, see Rules 1 and 15.
Investment income amount is more. The maximum amount of investment income you
can have and still get the credit has increased to $3,100. See Rule 6.
The following document (Publication 596) contains the Earned Income Credit Table or EIC Table which is also referred to by Earned Income Credit Chart or EIC Chart.
Download 2009 EIC Publication 596 The EIC chart / EIC Table starts on page 46.
