Illinois State University employees may be eligible for the federal Earned Income Credit (EIC). It is a benefit for working individuals with low to moderate income. To qualify, individuals must meet certain requirements and file a tax return, even if individuals do not owe any tax or are not required to file.
The EIC reduces the amount of tax the individuals’ owe and may result in a refund.
Additional information regarding the federal Earned Income Credit can be obtained by referencing IRS Notice 797, the IRS website (www.irs.gov), or by contacting the Internal Revenue Service at (800) 829-3676.
The 2020 IRS form W-2, Wage and Tax Statement, being distributed by February 1, 2021, contains information about the EIC on the back of Copy B.