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What is the EITC? (Overview)
The Earned Income Tax Credit (EITC) is a refundable federal tax credit for working people with low to moderate income. The EITC lifts more families above the poverty level each year than any other federal program.
To determine whether you are eligible for the EITC, use the IRS’s online
EITC Assistant. Click on the following link:
http://www.irs.gov/individuals/article/0,,id=130102,00.html
Volunteer Income Tax Assistance (for free tax preparation through April 15, 2008)
Low- to moderate-income taxpayers can file taxes free of charge at a
Volunteer Income Tax Assistance (VITA) site. To find the VITA site
nearest you, call 1-888-LA-HELP-U (1-888-524-3578).
Qualifying for eITC and tax credit amounts
To qualify for the EITC for Tax Year 2007, you must have income of less than:
- $37,783 for single filers ($38,783 for married joint filers) with more than
one qualifying child.
- $33,241 for single filers ($35,241 for married joint filers) with one
qualifying child.
- $12,590 for single filers ($14,590 for married joint filers) with no qualifying
child.
Additional requirements:
- You must file a Federal income tax return and attach Schedule EIC
- You must have a valid Social Security Number.
- Your investment income for the year cannot be more than $2,900.
- Your filing status cannot be "Married Filing Separately."
The maximum amount of EITC filers could receive for Tax Year 2007 is:
- $4,716 with two or more qualifying children.
- $2,853 with one qualifying child.
- $428 with no qualifying children.
Other helpful tax information
Did you know?
- EITC-eligible workers raising one or more children can receive EITC in
their paycheck throughout the year as opposed to receiving their EITC in
one lump sum when they file their taxes the following year. This is the
Advance Earned Income Credit. For more information,
see http://www.irs.gov/individuals/article/0,,id=96515,00.html
- In most cases the EITC does not affect public benefits such as cash
assistance.
- If you have questions about your federal income tax, call the IRS toll-free
help line at 1-800-TAX-1040 (1-800-829-1040).
Partners
Louisiana EITC Outreach Initiative partners:
- U.S. Department of Health and Human Services (DHHS),
Administration for Children and Families
- U.S. Department of the Treasury, Internal Revenue Service (IRS)
- Louisiana Governor's Office
- Louisiana Department of Social Services
- Louisiana Workforce Commission
- Louisiana Department of Revenue
- Louisiana Children’s Cabinet
- Louisiana Solutions to Poverty (SToP) Community Coalitions
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