The earned income tax credit calculator is a resource that tax payers can use to determine an approximation of how much credit they are going to get back. If you find out that you qualify for earned income credit, then it is possible that you will also qualify for free tax preparation as well.
In order for a tax payer to utilize the free earned income
tax credit calculator
there is a list of information they need to have. This list includes their
filing status, their state of residence, estimation on the amount of income
they've earned in that year, and how many children they have.
After the tax payer inputs all of the
information into the tax credit calculator it should quickly
respond with an estimation of the credit
amount you are entitled to.
The most important thing for you to remember
when you are utilizing this free resource is the fact that you are using it
with estimated data (your estimated yearly income). This means that the results
you get from the tax calculator are going to be
estimated as well.
You should never assume that the amount the
calculator tells you your credit is will be completely accurate. It could end
up being higher or lower. Obviously, you have no way of knowing how accurate
this estimation is until you input more detailed tax related information when
you officially claim your
earned income credit
by filing .
While most tax payers
end up finding out that the estimations
of the calculator are not that far off
from what they end up being entitled to, it is better not to assume something
before it is known to be true.