Does the Earned Income Credit (EIC) increase with each dependent child, or is there a maximum number of dependents I can claim?
The Earned Income Credit (EIC) increases with the first three children you claim. The maximum number of dependents you can claim for earned income credit purposes is three.
You must also meet other requirements related to your adjusted gross income (AGI) to qualify for the EIC. If you’re married filing separately, you can’t claim the EIC.
What is a closing disclosure? When you buy a house, you will receive a closing disclosure that can benefit you at tax time. Learn more at H&R Block.
Changing jobs can come with tax implications like job search and moving expense deductions. Learn more about these potential benefits at H&R Block.
Head of household is a filing status for single or unmarried taxpayers who have maintained a home for a qualifying person, such as a child or relative. This filing status provides a larger standard deduction and more generous tax rates for calculating federal income tax than the Single filing status.
As end-of-year approaches, taxes owed can become a major headache. Plan ahead by considering 529 Tax Deductions and other end-of-year savings options.