Can single people benefit from the earned income tax credit?
One of the most widely used forms of tax relief offered to families is the Earned income tax credit (EITC), a key support program for households across the country.
Low- and middle-income workers can often claim a substantial tax refund from the EITCprovided they meet the eligibility criteria. One of the most frequently asked questions about the program is whether singles can still apply for the help.
The answer is yes, singles can receive EITC payments. In fact, in some cases, you may be able to file for an EITC even if you don’t report children on your tax return. To do so, however, you will need to meet some additional eligibility requirements.
You can file under one of the following statuses:
– Married filing jointly
– Head of household
– Eligible widow or widower
– Separate married file
What are the eligibility conditions for the earned income tax credit?
The EITC is designed to provide relief to low-income families and households who may be financially stretched, to ensure they get a little help with their year-end tax bill. The qualifying rules for the program state that applicants must:
– Have worked and earned at least $1 in the last tax year
– Have income below the income threshold of their family situation
– Have investment income of less than $10,000 in the last tax year
– Have a valid social security number on the due date of your tax return (including extensions)
– Be a U.S. citizen or resident alien for the full year
– Not filing Form 2555 (related to foreign earned income)
Generally, the higher the number of children claimed, the higher the income threshold. Joint filers will also obviously have a higher threshold than individuals.
You can still receive the EITC if you don’t have children, but you must meet a different set of requirements in addition to the standard eligibility requirements. Those are:
– You must have lived in the United States for at least half of the year
– You cannot be claimed as a dependent or eligible child on someone else’s tax return
– You must be at least 24 years old if you have been a student for at least five months of the year, 18 if you were in host family at any time after turning 14 or if you were without sheltered in a tax year, and at least 19 years old otherwise