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.
How to read the EITC tables: The maximum earned income credit allowed/payable for the given tax year is shown in line 1. To start claiming this credit you must have at least $1 of earned income, with line 2 showing the minimum amount of earned income required to get the maximum earned income tax credit. The amount of credit you receive or qualify for varies based on income and number of children so will differ from person to person. Earned income includes all the taxable income such as Wages, salaries, and tips, certain disability benefits and self-employment earnings.