What is earned income tax credit?

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    Jordan Moore
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    Jordan Moore
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    Earned income tax credit (EITC) s a credit that low and moderate-income workers receive. This helps reduce your tax bill considerably if your income is below a certain level. 

    EITC is refundable. So those who qualify can reduce their taxes based on the credit amount. If the credit amount is more than the tax, you may get a refund of the overage. You need to meet the strict income qualifications to get the earned income tax credit. This tax credit does not depend on whether you have children or not. But if you have children, you could get a higher credit amount.

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