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Pomona California Form 1040-SS: What You Should Know

This credit allows you to claim some tax liability for a child under age 17. A child may not qualify for the ETC if the child is married, has more than one child and/or has substantial income. Video: EIC — Benefits.gov Earned Income Credit and Dependent Deduction The EIC is used to offset the first 2,700 of tax payable (but not including any credit for child-related expenses, such as college tuition, room and board, miscellaneous expenses not otherwise subject to tax, etc.). EIC Benefits.com The EIC is refundable. Once it has been received, it reduces the amount of tax due by the amount of ETC you get. Learn more about the EIC. The EIC amount you will receive will depend on the tax return information for you, for example, the number, age and number of children. These EIC numbers may vary among taxpayers. If a tax return has been filed in your case, you will receive EIC benefits that are based on the number of children for whom you claim qualifying expenses. These claims are deducted before the amount shown on the tax return. Earned Income Tax Credit FAQ Did you receive a refund from the EIC in 2017? If you received a refund for 2017, see How many children do I need? For more details on the EIC and refundable EIC. Did you receive a check from the U.S. department of Education in 2017? If you received a check from the U.S. federal department of education in 2017, see What is the Department of Education's EIC refund? For more details on the EIC and IRS refundable EIC. Are there any special rules for the EIC for 2018? There are no special rules for the 2024 EIC. How to Claim EIC Benefits Qualifying expenses. You can claim the EIC using either the standard deduction or itemized deductions if the eligible expenses are qualified expenses: Qualified expenses. To claim the EIC, you must meet all the following requirements: You must be filing a self-employed tax return and choose to itemize your deductions using Schedule A (Form 1040). You also need to claim both qualifying expenses and the earned income credit on your tax return. The amounts shown on lines 12a and 13 of Schedule A will be used to calculate the amount of eligibility you receive for the EIC.

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