Questions and Answers About Income Tax Credits

Questions & Answers about: Income Tax Credits

2003 Earned Income Tax Credit may be a way for you to get cash back

Q. What is the Earned Income Tax Credit (EITC)?

A. The Earned Income Tax Credit is a tax benefit for people who worked full or part time. If you qualify for the EITC, even if you don’t owe any taxes, you may get cash back! *

Q. Who can get the EITC?

A. You would need to meet the EITC income guidelines which for 2003 are:

Workers who earned less than $29,666 in 2003 and were raising 1 child in their homes may be eligible for the EITC, up to $2,547 tax credit.
Workers who earned less than $33,692 in 2003 and were raising 2 or more children in their homes may be eligible for the EITC, up to $4,204 tax credit.
Workers, at least age 25 and under age 65, who earned less than $11,230 in 2003, and had NO children living with you, may be eligible for the EITC, up to $382 tax credit.

NOTE: Income limit for MARRIED WORKERS is $1000 higher than the amounts shown. (EITC will also be higher).

Q. How do I get this tax credit?

A. You must apply for the EITC by filing FORM 1040 or 1040A and sometimes Schedule EITC when you do your taxes.

Q. Can anyone help me file my taxes?

A. You can get free help preparing your taxes from the IRS or from volunteer income tax assistance (“VITA”) clinics. Call the IRS at 1-800-829-1040 for locations (be patient, they’re busy), check with your local library or town hall, or call Infoline at 211 for locations.

Q.Are there other tax credits?

A. Yes. The Child Tax Credit (up to $1,000 per child), the Additional Child Tax Credit (for people who do not get the full amount of the Child Tax Credit--use form 8812) and the Child Care Credit--you can get credit for money you paid out of your pocket for licensed or unlicensed child care.

* (If you are on TFA/Welfare, call Statewide Legal Services for advice 1-800-453-3320.)

This information is based on laws in CT as of February 2004. It is not intended as legal advice for an individual situation; individuals should consult with a lawyer if possible. Produced by Legal Assistance Resource Center of CT.