The earned income tax credit may be able to help taxpayers put more money in their pocket. There are a few groups of people that should consider looking into the credit more. These groups may include:
- Native Americans – If a Native American taxpayer receives income as an employee or from owning a business, they may be eligible for the earned income tax credit.
- Grandparents – Grandparents who are raising grandchildren may be able to benefit from the earned income tax credit. They should make sure that the child meets the qualified child requirements. There are also a few other considerations and special rules for this segment.
- Taxpayers in Rural Areas – If you live in a rural area, you may be eligible for the credit.
The IRS has prepared the EITC Assistant to help taxpayers determine if they qualify for the EITC.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov[8]
[8] IRS.gov, February 3, 2020
