Question

My EIC is a lot less this year than last year and I want to know why? Is EIC a set amount each year and changes and went down this year? Or it based on your wages?

Forum|Forum|7 years ago
June 1, 2019
2 replies
0 views

No text available

Employee

When you enter your dependents and your income into your tax return, TT automatically calculates the child tax credit, additional child tax credit, and includes EIC if you qualify for it. So if you qualified for EIC it is already showing in your refund. If you do not understand the amount of EIC you are receiving, please look at the chart for EIC—look for the number of children you claimed and your income, and you will see how much EIC you are supposed to be getting.

There is a table that starts on page 30of IRS publication 596 regarding EIC and the amount you can receive for your earned income:

www.irs.gov/pub/irs-pdf/p596.pdf

The amount of EIC you are receiving can be seen on your tax return:

1040EZ on line 8a

on 1040A line 42a

on 1040 line 66a

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

C

Celery63

EIC is calculated first based on your earned income and then again for your adjusted gross income, you get whichever calculation gives the least amount.

If you want to look up the EIC you get for a particular earned income and/or Adjusted Gross Income, see the EIC table in the Instructions for Form 1040, which you can find at this link
http://www.irs.gov/pub/irs-pdf/i1040.pdf