Government’s Earned Income Tax Credit Program Provides Much-Needed Financial Relief to Millions
Earned Income Tax Credit Provides Vital Financial Assistance to Millions of Americans
This week, millions of Americans are receiving much needed financial relief from the government, but it is not another stimulus check. Instead, it is thanks to the Earned Income Tax Credit, a program aimed at helping families and individuals with low to moderate incomes. The IRS has started mailing out checks, with some folks getting up to $7,430. Many people might not even know about this credit. It is like a tax refund, so even if you don’t owe any taxes, you can still get the money based on your income and how many kids you have. The IRS says about one in five eligible taxpayers don’t claim it which means lots of folks are missing out on help they could really use.
$7,430 Stimulus Checks – Millions of Americans to Receive- Check Now! (PHOTO: Forbes)
Eligibility Criteria and Filing Process for Earned Income Tax Credit Explained
To get this check, you need to be a U.S. citizen with a valid Social Security number and not reporting foreign income. You also can’t have more than $11,000 in investment income. You will have to file some forms with the IRS, like the 1040 or 1040-SR, and if you have kids, you will need to include a Schedule EIC form. While you might not get your full tax refund until February, if you filed for this credit last year, your check could be on its way soon.
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