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Earned Income Credit (EIC) Calculator

If your income is less than a certain value (as defined by the Federal Tax authority), you can take the facility of Earned Income Credit (EIC). EIC will help you to get tax refund if your total tax bill is less than your EIC. By using this calculator, you can compute the value of EIC in any of your exact condition when EIC is availed. Installation of JavaScript is a must to use this calculator. You may need to change your internet settings for viewing this calculator if Internet Explorer is used as a browser.
Filing status
Select your tax return filing status as per your present state. It will help you compute the income levels for your Federal Tax Bracket. You must define your filing status as single, married filing separately, married filing jointly, head of household, or qualified widow(er). Five types of existing tax filing status are summarized in this table:

Filing Status
Married and Filing Jointly You can file your tax return jointly with your spouse if you are married. A joint return file is permitted with death of your spouse during the tax year.
Filing as Qualified Widow(er) If your spouse died one year before this tax year, You can file your tax return under this. You should ensure that you are the chief provider of at least one dependent child or stepchild.
Filing as Single Only You can apply this status for tax filing if you are legally separated, unmarried, or divorced as of the last day of the year.
Filing as the Head of Household If you are paying more than half of the expenses of your family being unmarried, you can use this status for tax filing. Married people can use this status if they are not living with their spouse for last six month of current tax year & you are paying more than half of the expenses of your family with at least one dependent child.
Married but Filing Separately Individuals who are married can file their tax return separately by choosing this status if they want.
Number of children qualify for the EIC
You need to include the number of kids in your family who are eligible for the Earned Income Credit (EIC). Some requirements set by IRS must be met to include a child considered as qualified. There are some changes in regulation every year by Federal Tax Authority regarding the requirements of qualifying children. So, you need to be updated about the latest regulations before determining the number of qualifying children.
Income earned
Total amount of your taxable amount including earnings from salaries, wages & any other income as well. Here, you can enter earnings from farms & businesses which are not subject to self-employment taxes. You should not record any non-taxable & penal income in it.
Income earned from Self-employment
Enter the amount of self-employment income which is subject to self-employment taxes. As per EIC, you need to decrease self-employment income by 1/2 of your self-employment tax bill.
Income from investments
Enter the amount of your total investments in the form of Capital gains, net income from non-operating activities, taxable interest & Tax-exempt Interest.
Combat pay which is non-taxable
This calculator facilitates you to generate the highest EIC by taking your non-taxable combat pay into consideration or not.
Gross income (adjusted)
It is your adjusted gross income which includes your earned income, interest income dividends & capital gains. Your EIC is the lower of your adjusted gross income & earned income.
Penal, scholarships, and retirement income
Any income from penal, scholarship, and retirement income is not eligible for EIC as it reduces your EIC.
Age between 25 and 65 checkbox
To be eligible for EIC, enter your age whether you are in between the ages of 25 & 65 or not. This is applicable for the persons who have no children.
Dependent checkbox
State your condition whether you are dependent or not. If you have a qualified children or your spouse, you can be his or her dependent if he or she pays more than 50% of your living expenses.
Qualified children checkbox
State your condition whether you are a qualifying child of your parents or not. Your EIC claim for yourself depends on it.
United States resident checkbox
To receive EIC, you need to stay in the U.S. for six months at least within this current tax period. It is applicable for the person who has no qualifying children.