The EITC is a tax credit for certain people who work and have earned income under $41,646. EITC qualification is determined by the persons earned income and the number of children they have so qualification guidelines vary depending on that.
Returns from EITC can contribute a significant amount of money to families who are struggling during these financially challenging times. For qualifying families the return could add as much as $4,824 to a family’s annual income for 2008. If a family has not claimed this credit in the last 2 years and they qualified, they can receive as much as $14,076 for 2008.