Ask the Tax Pro - Karen, Goss, Liberty Tax

Q. Am I eligible for the Earned Income Tax Credit?

You could be. Every year millions of taxpayers miss out on this tax break, worth more than $6,400 this tax year.

The Earned Income Tax Credit (EITC) is a tax credit designed to help low- to moderate-income workers. Those who earned $54,884 or less in 2018 may qualify for the tax credit, which is refundable. That means, even if an eligible taxpayer owes no tax, he or she still can receive a tax refund. Eligible families with three or more qualifying children could get a maximum credit of up to $6,431.

Because work and family situations can change every year, many workers do not realize they are eligible for EITC. The IRS estimates that 1 in 5 eligible workers do not claim the tax credit.

Taxpayers who claim EITC will have to wait until Feb. 15 or later to receive their tax refund. Under law, the IRS cannot issue refunds with EITC before that date.

Workers are wise to check with their tax-preparer to see if they qualify for the tax credit.

Karen Gossoperates Liberty Tax in Laconia, NH. To find the Liberty Tax office nearest you call 866-871-1040 or visit www.LibertyTax.com.

About Liberty Tax, Inc.

Founded in 1997, Liberty Tax, Inc. (OTC PINK: TAXA) is the parent company of Liberty Tax Service. In the U.S. and Canada, last year, Liberty Tax prepared approximately two million individual income tax returns in more than 3,500 offices and online. For a more in-depth look, visit Liberty Tax Service and interact with Liberty Tax on Twitter and Facebook.