Many US taxpayers look forward to receiving their tax refunds during the tax season. However, if you have never prepared your own tax return, it can be mysterious as to how the refund amount you receive is determined. The good news is the process is easy.
The Earned Income Tax Credit, also known as the EIC and EITC, is a tax credit for individuals who only make an annual income that is considered low or moderate. Your filing status and your income determine the amount of the credit.
If you are able to qualify for the credit, your federal taxes will … Read the rest