EARNED INCOME TAX CREDIT (AAM)

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Payments made by the Internal Revenue Service (IRS) to certain working individuals who are raising a dependent child and meet IRS requirements.

The Earned Income Tax Credit (EITC) is available either as a lump sum payment at the end of the tax year or as a recurring advanced payment, which the employer adds to the individual’s regular paycheck.

Treatment: Excluded as a resource for 12 months from date of receipt.

EITC payments are excluded income. See EARNED INCOME TAX CREDIT in Part 513, LESS COMMON INCOME TYPES.

Reference:26 USC 6409