Do you qualify for the Earned Income Tax Credit? If you do, and you don’t claim it, you are leaving potentially thousands of dollars on the table. The EITC is designed to help those on a low to moderate income pay for their everyday expenses.

But not everyone can get this tax break. You must meet certain criteria to qualify. They are listed below:

  1. You must be a U.S. resident with a Social Security number that is valid for employment.
  2. If you invest in treasury notes or bonds, you can’t make more than $3,400 in interest during the year.
  3. Your income can’t be greater than the limit for that year, which ranges between $15,000-$50,000. The actual figure depends on how many children you have.
  4. Your children have to be younger than 19, or no older than 24 if they are full-time students. The more children you have, the more of a credit you get.
  5. If you don’t have children, you may still qualify. If you are between the ages of 25-65, you can check with your tax professional to see if you are eligible.

Bottom line: don’t turn down free money. Always ask your tax professional for advice. You never know which credits and deductions you may qualify for this year.