A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Tax CreditA dollar-for-dollar reduction of the tax you owe, making it more valuable than a deduction of the same size.
- Earned IncomeMoney you make from working, such as wages, salary, tips, or self-employment, as opposed to investment income.
- DependentA qualifying child or relative you support financially, which can unlock deductions and credits on your return.
- Adjusted Gross Income (AGI)Your total income minus certain adjustments, used as the starting point for figuring out how much tax you owe.
- Child Tax CreditA tax credit for parents that reduces what they owe for each qualifying child under a certain age.
Turn this into a brick
Knowing what Earned Income Tax Credit (EITC) means is knowledge — the first half. A brick gets placed when you act on it.
More in Taxes
Plain-English education — not personalized legal, tax, or investment advice.