Earned Income Tax Credit Awareness Day

In recognition of today being Earned Income Tax Credit (EITC) Awareness Day, TaxACT® is reminding Americans that EITC help and federal tax return filing is always free at www.taxact.com.   
                                                     

This year's maximum Earned Income Tax Credit amount is $496 for an individual without children and $6,143 for a family with three or more children. The final credit amount is based on wages, other earned income, adjusted gross income and number of qualified children. One of the EITC requirements is that earned income and adjusted gross income for 2014 must each be less than:

               

• $46,997 ($52,427 married filing jointly) with three or more qualifying children
• $43,756 ($49,186 married filing jointly) with two qualifying children
• $38,511 ($43,941 married filing jointly) with one qualifying child
• $14,590 ($20,020 married filing jointly) with no qualifying children

       

Last year, nearly 28 million Americans received the refundable EITC, averaging $2,407. However, just four out of five qualified taxpayers claimed the credit.

TaxACT Free Federal Edition, available as over-the-web, download and mobile solutions, asks simple eligibility questions and completes the tax forms. With TaxACT's free federal e-file and direct deposit, Americans filing returns for the EITC could have their IRS refunds as soon as mid-February.