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mattyjohn310
New Member

Are the EIC credit lower this year. 600 lower

 
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SweetieJean
Level 15

Are the EIC credit lower this year. 600 lower

EIC is calculated two ways, based on: (1) earned income (such as wages), and based on (2) Adjusted Gross Income.  You then get the lower of the two.  And is paid on a "bell curve."  That is, it goes up as your income  goes up to a certain point, but then comes down again. 

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2 Replies
npierson7
Level 1

Are the EIC credit lower this year. 600 lower

Most likely your Earned income amount has changed this year.  For 2020, the Earned Income Tax Credit ranges from $538 to $6,660. The amount depends on income and number of children.

SweetieJean
Level 15

Are the EIC credit lower this year. 600 lower

EIC is calculated two ways, based on: (1) earned income (such as wages), and based on (2) Adjusted Gross Income.  You then get the lower of the two.  And is paid on a "bell curve."  That is, it goes up as your income  goes up to a certain point, but then comes down again. 

View solution in original post

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