For the tax year 2010, the EITC will be adding a new category to their large list of qualifying US Citizens who may claim this credit. When the amount of the EITC covers any payments that you might owe to the IRS. Some families can qualify for almost 5,000.00 dollars in refunds with the EITC.
In previous years, the Internal Revenue Service had a qualifying EITC category for lower income people without kids, for people with one child living under their roof for longer than 6 months during the tax year, and a category for people with two or more kids in their care. For tax year 2010, people who have three or more kids under their care for longer than 6 months out of the year can apply for a larger credit than before.
Taxpayers with dependents living in their care do not have to be the birth parents to the kids. EITC is for qualifying grandparents helping their children by caring for their offspring, aunts who have taken their siblings kids to help during our hard times, or even an older brother or sister with their siblings in their care.
Foster care parents with kids placed into their custody by an approved agency are also eligible to claim an EITC if home steadily for longer than 6 months out of the income tax year. Any time that children spends exactly 6 months in each of two homes, the person who claims the EITC is the taxpayer most closely related to the child. Whenever a question of who is filing comes up, the parent is favored.
Foreign born people working in the US with a child or children in their home for more than 6 months out of the tax year also normally qualify to take their EITC money. One requirement is that the person claiming this EITC and all the kids involved must have the valid SS #’s that are required of all taxpayers in the United States of America. Other EITC rules may also apply to those who are born in other countries.
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