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Form 2555-EZ Lansing Michigan: What You Should Know
Have a qualifying child under age 18. Earned income tax credits. Tax credits are paid to taxpayers who have children on a tax-free basis through their households. Earned income tax credits are available to certain households with a household income that is below the household income limit. The maximum earned income tax credit is 2,000 per individual and 4,000 per couple. There is no maximum earned income tax credit for married couples filing jointly. The maximum earned income tax credit is only available for income received in 2017. See Publication 644, Earned Income Tax Credit, for more information. See Publication 502, Children's Tax Credit, for more information. The Earned Income Credit is not available to individuals with a federal income tax liability. The following taxpayers may be eligible for the tax credit: A couple that file a joint return and file a joint return without qualifying children for which an earned income tax credit cannot be claimed A married couple filing a joint return with qualifying children for which an earned income tax credit can be claimed and that do not itemize all their deductions A couple filing a joint return with qualifying children for which an earned income tax credit can be claimed and that do neither itemize all their deductions and do qualify for an exemption If an earned income tax credit claim is filed due to tax liability, you are able to claim the earned income tax credit and the child tax credit for the portion of the year in which your tax liability is due to be paid. You should not claim either earned income or child tax credits for more than one calendar year because you may be subject to a maximum credit and interest for all the credit claims you file in a calendar year. Child tax credit amounts may be refundable, so they may reduce the amount you owe if you qualify for the refund after a tax year in which you claim the credit. The income limits on the earned income tax credit are as follows: Maximum of 2,500 per child (800 for singles. 2,000 if married filing jointly.) Maximum of 4,000 (400 for singles. 2,000 for married filing jointly.) See Publication 502, Children's Tax Credit, for more information. Children. Only qualifying children under age 18 can claim the earned income tax credit. Qualifying children include the following: Parents. Spouses. Parents. Spouses. You must claim a qualifying child for a tax year to be able to claim the earned income tax credit for the tax year. Example.
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