EITC and what it means to you

My mom emailed me about Earned Income Tax Credit and I thought I’d investigate.

From KY.gov

Governor Launches Campaign to Urge Kentuckians to Apply for the Earned Income Tax Credit

Surely, this is just a publicity stunt. Let’s see if I’m eligible.

From the IRS:

  • Must have a valid Social Security Number
  • You must have earned income from employment or from self-employment.
  • Your filing status cannot be married, filing separately.
  • You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return.
  • You cannot be a qualifying child of another person.
  • If you do not have a qualifying child, you must:

    • be age 25 but under 65 at the end of the year,
    • live in the United States for more than half the year, and
    • not qualify as a dependent of another person
  • Cannot file Form 2555 or 2555-EZ (related to foreign earn income)
  • EITC Thresholds and Tax Law Updates
  • Special rules may apply

So, I’m already disqualified because I wasn’t 25. If I was 25, let’s see where I could go:

Earned income and adjusted gross income (AGI) must each be less than:

From EITC Thresholds and Tax Law Updates

  • $37,783 ($39,783 married filing jointly) with two or more qualifying children;
  • $33,241 ($35,241 married filing jointly) with one qualifying child;
  • $12,590 ($14,590 married filing jointly) with no qualifying children.

$12,590? That’s earning ~$6.29 an hour working 40 hours a week for 50 weeks a year. I made more as a student worker for the university in 2005-2006.

Boo, Governor Beshear.


About andyhillky
I'm cool.

2 Responses to EITC and what it means to you

  1. deezil says:

    You made more than that as a student worker? You suck.

  2. Craig says:

    Programs like this encourage people to continue to fail.

    So some dude is going to get a $500 to $4800 dollar credit (money people like you and me put into the system) because they have kids and cant support them.

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