How to Apply for the Earned Income Tax Credit
by: Low Income Taxpayer Clinic (LITC)
What Is The Earned Income Credit?
The Earned Income Credit (EIC) is a tax credit that can return as much as $4,400 a year to a low-income working family. The average return for a low-wage earner is about $1,600. The dollar amount of the credit increases if you have children.
If you have not claimed the Earned Income Credit before, you may be able to gain money owed to you over the past three years.
How Can I Apply For The EIC?
Can you answer yes to the following questions?
Have you worked this year?
Did you make less than $37,263?
Are you between 25 and 64 years old?
If you answered yes to all three of these questions, then you may qualify and apply. To apply for the Earned Income Credit, you will have to file forms with the Internal Revenue Service (IRS).
Why Should I Use I-CAN To File My Taxes & Apply For The EIC?
If you use the internet, you can get your money faster, and it is completely free! The internet program will make filing your taxes easy by taking you through the forms step-by-step. This program will also help you understand if you qualify for the EIC.
This site is called I-CAN. After you get to the web site, just follow the directions on each screen.
What Forms Do I Need To File For The EIC?
You will need your W-2 form. This form states how much money you make from your employer. Ask your employer for this form if you do not have it.
You will need information about any other income you have made.
Correct birth names and social security numbers for you, your spouse and your children.
Information about child care, if you used it, such as:
Name, phone number and address of child care.
Amount you paid during the year.
Taxpayer identification number or social security number of individual or place.
Whether or not your employer pays part of the child care.
What Is The Fastest Way To Get The EIC?
The fastest way to get your money is to electronically file your returns. You can electronically file using I-CAN.
You can also print your tax return and send it to the IRS in the mail.
Using I-CAN is fast, and it is free. If you file electronically using a tax preparation service, the fees may take as much as 60% of your refund.
Where Do I Go To Use The I-CAN Internet Program?
You can go anywhere that has a computer with the internet and a printer. Your local library or Job Service Center will have the internet. If you do not know where to go, call Montana Legal Services Association.
We will tell you where the nearest computer lab or I-CAN location is.
Why Can't I Just Get A Rapid Refund?
Avoid rapid refunds from tax preparation businesses. Why pay for tax preparation when you can do it yourself for free? If you use the I-CAN! internet program, your money can arrive in as little as ten days.
File your taxes and apply for the Earned Income Tax Credit online for free at: http://www.icanefile.org.
By using this web site, you can obtain your money in as little as ten days. The web site is free and easy to use. It provides you with step-by-step instructions and technical support. If you have trouble using the web site, call Montana Legal Services Association.
Tax Information and Resources
The following resources can provide you with more tax information and/or assistance with filing your taxes:
Volunteer Income Tax Assistance (VITA): 1-800-829-1040
I-CAN e-filing allows you to file your taxes and apply for the Earned Income Credit for free at: http://www.icanefile.org
MLSA Low Income Taxpayer Clinic gives low-income taxpayers free legal assistance on federal tax matters year round: (406) 543-8343 or (800) 666-6899.
Revised 1/06
The clinic listed herein is partially funded through matching grants provided by the Internal Revenue Service pursuant to the Internal Revenue Service Restructuring and Reform Act of 1998. The partial funding by the IRS does not imply that the clinics have a preferential relationship with the IRS. The decision of whether to use these clinics is your own and their use will not affect your rights before the IRS.
Call the MLSA HelpLine for legal assistance: (800) 666-6899
Low Income Taxpayer Clinic 304 North Higgins Avenue Missoula, Montana 59802 (406) 543-8343 (800) 686-4574
Montana Credit Unions for Community Development 1236 Helena Avenue Helena, MT 59601-2948 (406) 442-9081 (800) 745-5546 http://www.montanacreditunions.coop/
Last Reviewed On: 01/03/06
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