What is the Earned Income Credit (EIC) and how does it work? How does one qualify for this credit?

The Earned Income Credit (EIC) is a tax credit that could lessen your federal tax liability or give you money back at tax time. No matter if you're single, married, or have kids, you are still eligible for the credit. The primary prerequisite is that you must have a job that pays moneyWhat is the Earned Income Credit (EIC)?Working low-income families receive assistance through the earned income tax credit. From the first dollar of earnings until the credit is fully repaid, the credit is equal to a fixed percentage of earnings.Therefore, Any federal taxes you owe at tax time may be cancelled out by the credit. You receive the difference in your tax refund if the amount of the EITC is greater than what you owe in taxes. Even if you don't owe income tax, you may still be eligible for a refund provided you meet the requirements.Learn more about Earned Income Credit fromhttps://brainly.com/question/14967128#SPJ1