EARNED INCOME TAX CREDIT (RESOURCE) (MAM)

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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: Lump sum EITC payments are an excluded resource for 12 months from date of receipt. Consider advanced EITC payments as an excluded income.

See Earned Income Tax Credit in PART 513, Less Common Income Types.

References: 26 USC 6409