Q:

What does "EITC" stand for?

A:

Quick Answer

EITC stands for earned income tax credit. The earned income tax credit is available to taxpayers with a low to moderate income level. EITC is also referred to as EIC, or earned income credit.

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Full Answer

Qualification information for the EITC is available on the Internal Revenue Service website. A qualified tax professional can also determine eligibility. Taxpayers eligible for the EITC may be eligible to receive money back, even if no tax was withheld during the filing year. The EITC credit is not used to determine benefits such as Medicaid; food stamps, also known as the Supplemental Nutrition Assistance Program; Supplemental Security Income or low-income housing programs.

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