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Explanation: The Earned Income Tax Credit (EITC), sometimes called the Earned Income Credit (EIC), is a refundable Federal income tax credit for low-income working individuals and families. Households that earn more than the maximum income level (approximately $38,000) do not qualify for the credit. But for people within the income limits above, the benefit could be worth thousands -- as much as $4,400 for a family with two children. The average refund is approximately $1,850. Understanding EITC |
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