2023 Form 1040 Schedule EIC - Earned Income Credit

The Federal Form 1040 Schedule EIC (Earned Income Credit) is a supplemental form used by taxpayers to claim the Earned Income Tax Credit, a tax benefit designed to assist low to moderate-income individuals and families. The form helps determine eligibility for the credit and calculates the amount of credit a taxpayer may qualify for based on their earned income and family size. Taxpayers must meet certain criteria, such as having qualifying children, to be eligible for the Earned Income Credit. Completing Schedule EIC and including it with the regular Form 1040 can result in a reduction of the taxpayer's overall tax liability or the possibility of a refund.