Earned Income Credit

If you have low income for 2008 you may qualify for the Earned Income Credit. Most taxpayers who qualify are single parents in low income brackets. Read the info from the IRS below for more details on qualifying. Be aware that if you claim it and are not entitled to it. You will not be allowed to claim it again for at least 5 years.
If you need assistance in determining if you qualify, contact an Enrolled Agent or other tax professional.

You may qualify for the Earned Income Tax Credit, or EITC, if you worked last year, but did not earn a lot of money.
EITC is a refundable tax credit meaning you could qualify for a tax refund even if you did not have federal income tax withheld.
To qualify for the credit, you must:
• Have a valid Social Security Number (if you are filing a joint return, your spouse also must have a valid Social Security Number)
• Have earned income from employment or from self-employment
• Have a filing status other than married, filing separately
• Be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return
• Not be a qualifying child of another person (if you are filing a joint return, your spouse also can not be a qualifying person)
• Not file Form 2555 or 2555-EZ (related to foreign earned income), and
• Have a qualifying child OR:
o be age 25 but under 65 at the end of the year
o live in the United States for more than half the year, and
o not qualify as a dependent of another person
If you qualify, the amount of your EITC will depend on whether you have children, the number of children you have, and the amount of your wages and income last year.
For more information or to see if you qualify, go to www.irs.gov/eitc or call 1–800–829–3676 and request Publication 596, Earned Income Credit.