Earned Income Tax Credit for 2024. Step-by-Step Guide

The Earned Income Credit (EIC) is a tax credit available to U.S. taxpayers with earned income under certain thresholds. The credit is increased for those who have qualifying children as well.
In this example, we look at a taxpayer with one qualifying child and how he calculates his earned income credit.
For more videos on the EITC:
2 Qualifying Children: • Earned Income Tax Cred...
Investment Income Limits: • Earned Income Credit 2...
EITC Calculation: • Earned Income Tax Cred...
Rules for College Students: • Earned Income Tax Cred...
EITC with No Children: • Earned Income Tax Cred...
For videos on how to calculate the child tax credit:
CTC for 2024: • Child Tax Credit 2024 ...
Support Test for CTC: • Child Tax Credit - Wha...
CTC impact on welfare & unemployment benefits: • Child Tax Credit - Imp...
IRS CP79A Notice for CTC: • Child Tax Credit Denie...
IRS Form 8862 for Disallowed Credits: • IRS Form 8862 - Disall...
For a full playlist of earned income credit (EIC) videos:
• Playlist
For a larger database of tutorials, please visit our website and search for your question:
knottlearning.com/
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#EarnedIncomeCredit #EITC #EIC

[@alexcolombu1025]

you are always on point especially with the small details

[@abhi89035]

You are the best ❤❤

[@Brownmahfun]

Thank You. Can you do this for someone who does not have children?

[@madebymonk]

I only earned a couple thousand but for some reason my return doesn't show the maximum EIC. I lived in the US all 12 months, and have no foreigh assets.

[@apollomedia7210]

Is retirement accounts such as IRA and 401k considered investment income for the purposes of EIC eligibility criteria?

[@melhoresprodutos8899]

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