Preview of 2014 EITC Income Limits, Maximum Credit Amounts and Tax Law Updates
Here is the 2014 tax year income limits, maximum EITC amount and the EITC-related tax law changes. You can also access this information for:
2014 Tax Year
Earned Income and adjusted gross income (AGI) must each be less than:
- $46,997 ($52,427 married filing jointly) with three or more qualifying children
- $43,756 ($49,186 married filing jointly) with two qualifying children
- $38,511 ($43,941 married filing jointly) with one qualifying child
- $14,590 ($20,020 married filing jointly) with no qualifying children
Tax Year 2014 maximum credit:
- $6,143 with three or more qualifying children
- $5,460 with two qualifying children
- $3,305 with one qualifying child
- $496 with no qualifying children
Investment income must be $3,350 or less for the year.
For more information on whether a child qualifies you for EITC, see Qualifying Child Rules or Publication 596, Rules If You Have a Qualifying Child.
The American Tax Relief Act of 2012
The American Tax Relief act extended the relief for married taxpayers, the expanded credit for taxpayers with three or more qualifying children and other provisions to December 31, 2017.
Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes
The U.S. Department of the Treasury and the Internal Revenue Service recently ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. Under the ruling, same-sex couples will be treated as married for all federal tax purposes where marriage is a factor, including filing status, claiming personal and dependency exemptions, taking the standard deduction, employee benefits, contributing to an IRA and claiming the earned income tax credit or child tax credit.
The ruling implements federal tax aspects of the June 26 Supreme Court decision invalidating a key provision of the 1996 Defense of Marriage Act. Read more here.