Скачать или смотреть What Are the Requirements to Claim the Earned Income Tax Credit?

A very quick rundown of the requirements to claim the earned income tax credit

LINKS TO MATERIALS MENTIONED IN THIS VIDEO:

IRS Publication 596, “Earned Income Credit (EIC)”: https://www.irs.gov/pub/irs-pdf/p596.pdf

Earned Income Tax Credit Assistant: https://www.IRS.gov/EITCAssistant

Form 1040 instructions: https://www.irs.gov/pub/irs-pdf/i1040...
The questionnaire to help your determine whether you are eligible for the earned income credit begins on page 40

LINKS TO MY OTHER EARNED INCOME TAX CREDIT VIDEOS:

Quick Summary video (23 minutes) – A discussion that is about as quick as it can possibly be while still giving you a good overall picture of all the essential elements of the earned income credit, including tables that enable you to estimate your credit amount:    • Quick Summary of the Earned Income Tax Cre...  

Thorough Discussion video (2 hours, 8 minutes) - Helps you make sure you have dotted all your i's and crossed all your t's, provides details regarding all the requirements to claim the credit, discusses how to fill out your tax return to claim the credit, addresses special situations that arise in applying the rules, provides many examples to help you understand the rules, has links to specific topics to help you find them easily:    • Thorough Discussion of the Earned Income T...  

As an alternative to watching my Thorough Discussion video, I have created multiple shorter videos that address specific topics. These videos are all taken directly from the Thorough Discussion video, and allow you to quickly find information about topics and questions that are of interest to you. The links follow below.

Special Election to Use 2019 Earned Income to Determine 2020 Credit Amount:    • Earned Income Tax Credit: Special Election...  

How Much Is Your Credit for 2020?    • Earned Income Tax Credit: How Much Is Your...  

Who Are Your Qualifying Children?    • Earned Income Tax Credit: Who Are Your Qua...  

How Does a Tax Credit Benefit You?    • Earned Income Tax Credit: How Does a Tax C...  

How to Fill Out Your Tax Return to Claim the Credit:    • Earned Income Tax Credit: How to Fill out ...  

Will Receiving the Credit Cause You to Lose Any Benefits Provided by the Federal Government?    • Earned Income Tax Credit: Will Receiving t...  

Does Your State Provide an Earned Income Tax Credit?    • Does Your State Provide an Earned Income T...  

What Is the Definition of Earned Income?    • Earned Income Tax Credit: What Is the Defi...  

Social Security Number Requirement for You and Your Qualifying Children:    • Earned Income Tax Credit: Social Security ...  

The Formula Behind the Numbers in the IRS’s Earned Income Credit Amount Table:    • Earned Income Tax Credit for 2020: The For...  

ABOUT THE EARNED INCOME CREDIT

The earned income tax credit (also known as the earned income credit, EITC, or EIC) provides a credit of up to $6,660 in 2020 for taxpayers who are eligible for it. A credit is one of the most valuable tax benefits available to taxpayers because a credit is a dollar-for-dollar reduction of income taxes.

ABOUT ME

I retired in July 2018 after serving as a tax partner for 26 years in two major accounting firms in Washington, DC (first, at Ernst & Young LLP for 12 years, and later, at Grant Thornton LLP for 14 years). During my career, I was quoted in most of the nation’s major newspapers, including The Wall Street Journal, The New York Times, and USA Today. I also appeared on CNBC. I wrote over 50 articles that were published in various professional journals, and I made over 70 presentations at professional conferences, where I was consistently rated as one of the top presenters by conference attendees. Now that I am retired, I am spending part of my time making videos to help people understand tax issues.

DISCLAIMER

This video is intended to educate you about the earned income credit. It is not intended as tax advice directed specifically to you. You should not treat this video as personal tax advice given by me to you. You cannot use this video as a basis to avoid penalties under the Internal Revenue Code if it is determined that you have taken a position on your tax return that is contrary to the law.