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Earned Income Tax Credits (EITC)
Information on the following tax credit programs: Earned Income Tax Credits, Earned Income Credits Advance Payment, New York State Noncustodial Parent Earned Income Tax Credit, Child Tax Credits and Child and Dependent Care Tax Credits.
- Federal, New York State and New York City Earned Income Tax Credits (EITCs)
- Refundable tax benefits for working people with low or moderate incomes. They have several important purposes: to reduce the tax burden on these workers, to supplement wages, and to provide a genuine incentive for working.
- New York State Noncustodial Parent Earned Income Tax Credit
- This Earned Income Tax Credit is just one of a number of New York State initiatives to address the needs of young, low-income working noncustodial parents in an attempt to help them become more involved in the economic and social well-being of their children.
- Child Tax Credits
- The Federal Child Tax Credit and Additional Child Tax Credit are tax benefits offered by the federal government for taxpayers raising dependent children under the age of 17. New York’s Empire State Child Tax Credit is a refundable credit for full-year New York State residents with children who qualify for the Federal Child Tax Credit and are at least four years of age.
- Child and Dependent Care Tax Credits
- The Federal Child and Dependent Care Credit is a tax benefit offered by the federal government. New York State and New York City also offer a Child and Dependent Care Credit that helps more low-income families because, unlike the federal credit, it is refundable.
Earned Income Tax Credit (EITC)
The Federal, New York State and New York City Earned Income Tax Credits (EITCs) are refundable tax benefits for working people with low or moderate incomes. They have several important purposes: to reduce the tax burden on these workers, to supplement wages, and to provide a genuine incentive for working.
Workers who qualify for the EITCs and file Federal and State tax returns can get back some or all of the income tax that was withheld during the year. They may also get extra cash back from the IRS, New York State and New York City if their EITCs are higher than the taxes they owe.
To be eligible for the Federal and New York State EITC, you must:
- Have worked full or part time at some point during the calendar year,
- Be a single or married person raising “qualified” children at home,
- Have income below *$ 36,920 (or $ 42,130 if married)—for families with one child,
- Have income below *$ 41,952 (or $ 47,162 if married)—for families with two children,
- Have income below *$ 45,060 (or $ 50,270 if married)—for families with three or more children, or
- Be a worker between the ages of 25 and 65 and earn less than $ 13,980 (or $ 19,190 if married) for families with no children.
*These figures are based on Tax Year 2012 levels and change every year.
| Number of Qualifying Children | May Be Eligible for up to: |
|---|---|
| 0 | $618 |
| 1 | $4,120 |
| 2 | $6,807 |
| 3 | $7,658 |
To be eligible for the New York City EITC you must, in addition to the above requirements:
- Be a full-year or part-year resident of New York City,
- Claim the federal earned income tax credit, and
- File a New York State income tax return.
Federal Tax Forms
Forms and instructions are available on the Internal Revenue Service Website.
NYS Tax Forms
Forms and instructions are available on the New York State Department of Taxation and Finance website. See this information about the importance of recordkeeping for self-employed persons in order to claim the credit.