Over 40% of Americans don’t end up paying federal income taxes each year, and while that’s partly a function of their low earnings, it’s also because many households qualify for lucrative tax credits that knock their IRS liability to $0. If you’re a low-income household, there’s one credit in particular that could be extremely valuable to you: the Earned Income Tax Credit, or EITC. This year, the EITC has a maximum value of $6,431…
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