Earned Income Credit (EIC)

For 2011, the maximum credit is:

• $3,094 with one qualifying child
• $5,112 with two qualifying children
• $5,751 with three or more qualifying children
• $464 with no qualifying child

To be eligible for a full or partial credit, the taxpayer must have earned income of at least $1 but less than:

• $36,052 ($41,132 if Married Filing Jointly) with one qualifying child
• $40,964 ($46,044 if Married Filing Jointly) with two qualifying children
• $43,998 ($49,078 if Married Filing Jointly) with three or more qualifying children
• $13,660 ($18,740 if Married Filing Jointly) with no qualifying child

Investment Income

Taxpayers whose investment income is more than $3,150 cannot claim the EIC.

Advance EIC Payments

The Education Jobs and Medicaid Assistance Act of 2010 eliminated the advance EIC for tax years beginning after December 31, 2010.