What Is Earned Income Credit?

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Earned income credit is an IRS program designed to reduce the minimum tax rate for certain individuals with lower incomes. Visit the IRS Web site to fill out a questionnaire about your family situation and determine whether you qualify for an earned income credit with information from a financial adviser in this free video on taxes.

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Video Transcript

Did you have a bad year in 2008, and really not make much money at all? This is Roger Groh, of Groh Asset Management. You might be eligible for the earned income credit. What is that? It's just a way of reducing your minimum tax rate, to get more money in your pocket. The best way to determine whether or not you're eligible for this credit, is to contact the Internal Revenue Service, here in the United States. If you're reluctant to call them directly, you can go to their website, irs.gov. Within there, there's a section on the earned income credit, with a questionnaire online, where you can put in your family's situation. Are you married? Are you single? Do you have children? Do they qualify? How much money did you make, and are you eligible or not? It will also tell you how much money you are eligible for. Hope that helps. I'm Roger Groh, with Groh Asset, and thank you very much for spending time with me.


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