How do I: Know if I'm eligible for EITC?

What you need to know

How big a credit you qualify for, if any, depends on three main criteria: your income, your filing status and the number of dependent children you have.

For 2008, income limits for the EITC are:

• Single filers with no children: $12,880.
• Married couples filing jointly with no children: $15,880.
• Single filers with one child: $33,995.
• Married couples filing jointly with one child: $36,995.
• Single filers with two or more children: $38,646.
• Married couples filing jointly with two or more children: $41,646.

In addition to the income test, there are a few other rules for EITC qualification:

• Filers must be at least 25 but younger than 65 by the end of the tax year.
• Filers cannot be claimed as a dependent on someone else's return
• Children claimed on one tax return cannot be claimed as dependents by anyone else.
• Filers must reside in the U.S. for more than half the year.

The EITC works on a sliding scale determined by income and the number of dependent children you have. The maximum credit you can get on a 2008 tax return is $438 with no children, $2,917 with one child, $4,824 with two children.