Question Details

	Username: Peter Rating: Asked to: Goro Yang Date Created: 21 Mar 2016
Category	28
Tag	Financial
Question	Please give the definition of 'Earned Income Credit - EIC'.

Advice from Guru

Hello Peter,

A tax credit in the United States which benefits certain taxpayers who have low incomes from work in a particular tax year. The earned income credit (EIC) reduces the amount of tax owed on a dollar-for-dollar basis, and may result in a refund to the taxpayer if the amount of the credit is greater than the amount of tax owed.

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