How Do I Claim the Earned Income Credit?
NOTE: Glossary words are highlighted. Click on any glossary word to see its definition.
Before claiming the EIC, you should first be reasonably confident that you are eligible. See "Earned Income Credit - Am I Eligible?"
To claim (apply for) the federal Earned Income Credit (EIC) you must fill out a federal (United States) tax return and submit it to the Internal Revenue Service. This is referred to as "filing" your tax return. Unless you file for a time extension, you must submit your tax return by April 15th (for reporting income received during the prior January-December calendar year). Even if you do not owe any federal taxes, you must still submit a tax return to receive the EIC. The credit you receive (if eligible for the EIC) may cancel some or all of the taxes you owe and/or lead to an actual payment ("refund") from the U.S. Treasury department.
While it may go without saying, it is important to only claim the EIC if you believe yourself to be eligible. If the IRS determines that a person has intentionally provided them with false, inaccurate, or misleading information when claiming the EIC they will deny that individual the credit and may prohibit this person from claiming it for anywhere from 2-10 additional years. Put another way, there are stiff penalties for getting caught if a person tries to claim the EIC when s/he knows s/he is not eligible or tries to claim an EIC amount that is higher than what s/he is entitled.
Click on a category for more information:
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A summary of the steps involved in claiming the EIC.
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Guidance on which tax form(s) to use.
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There are various ways to obtain the necessary tax forms, including over the Internet, by fax, mail, phone, or by picking up the forms directly.
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Information on where to send your tax form.
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Free assistance in completing your tax form is available at various locations in New Mexico. The IRS will also compute your EIC if you request them to do so on your tax return form.
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Workers with qualifying children may be able to get advance payment on the EIC to which they are entitled.
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