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2023 Schedule Eic Form: What You Should Know

Illinois Income Tax Guide for 2018, State Guide, 2018.

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Video instructions and help with filling out and completing 2024 form Schedule Eic

Instructions and Help about 2024 form Schedule Eic

Hi, I'm Rex. For tax purposes, when you file schedule EIC, you're claiming one or more qualifying children. You can claim up to three different children. A qualifying child must meet certain requirements. First, they must live with you for over half the year. Second, they must be under the age of 19 at the end of the year, or 24 if considered a full-time student. Third, they cannot file a joint return. Fourth, they must be either your son, daughter, sibling, step-sibling, or legal foster child. It's important to note that a child can only be claimed by one taxpayer. If a child is eligible to be claimed by more than one person, the IRS must employ a tiebreaker rule. The amount of the Earned Income Tax Credit (EITC) increases with the addition of each qualifying child, but it maxes out at a total of three children. In 2017, taxpayers who qualify can earn up to fifty-three thousand nine hundred and thirty dollars. With three qualifying children, the credit can amount to as much as six thousand three hundred eighteen dollars. However, the credit decreases if there are fewer children. For more information, please visit attacks Calm.