For example, the United States government fiscal year for 2017 is: 1  1st quarter: 1 October 2016 â 31 December 2016. 2  2nd quarter: 1 January 2017 â 31 March 2017. 3  3rd quarter: 1 April 2017 â 30 June 2017. 4  4th quarter: 1 July 2017 â 30 September 2017.
Childless workers receive very small EITCs. The maximum EITC for a childless worker between ages 25 and 64 is just over $500. Most workers receive far less â the average credit for eligible workers was $281 in 2013, the latest year for which data are available. This was less than one-tenth the average $3,100 EITC for tax filers with children that year.
According to the rules, much has stayed the same in calculating the âearned income amountâ This is the amount of earned income at or above which the maximum amount of the earned income credit is allowed. You can see this amount on the 2016 EIC table. Remember that you can claim the 2016 earned income tax credit when you file your taxes in April 2017. 2016 Earned Income Tax Credit Amount Information. The earned income tax credit is a powerful tool fighting poverty and changes each year.