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Income Tax 1099-G Insert - Unemployment Insurance

EARNED INCOME TAX CREDIT

The Earned Income Tax Credit (EITC) is a tax benefit for people who work full-time or part-time, with low to moderate income. Most taxpayers who are eligible and file for a federal EITC can receive the Maryland state and/or local EITC tax credits.

Households may qualify for the federal and state EITC if, in 2023, you:

  1. Earned less than $56,838 ($63,398 married filing jointly) with three or more qualifying children
  2. Earned less than $52,918 ($59,478 married filing jointly) with two qualifying children
  3. Earned less than $46,560 ($53,120 married filing jointly) with one qualifying child
  4. Earned less than $17,640 ($24,210 married filing jointly) with no qualifying children

Tax Year 2023 federal maximum credit:

  1. $7,430 with three or more qualifying children
  2. $6,604 with two qualifying children
  3. $3,995 with one qualifying child
  4. $600 with no qualifying children

Investment income must be $11,000 or less for the year.

NOTE: The allowable Maryland credit is up to one-half of the federal credit.

Here’s how you get the EITC:

If you were raising children in your home in 2023, file federal Tax Form 1040 and attach Schedule EITC. For the Maryland EITC, file Tax Form 502.

To find locations for FREE tax preparation through the IRS Volunteer Income Tax Assistance and Tax Counseling for the Elderly Programs:

  1. Call 2-1-1 or 1-800-492-0618 (see the 211 Maryland website to learn more); or
  2. Maryland Relay at 7-1-1.

For more information about the Maryland EITC, visit www.marylandtaxes.gov, call 1-800-638-2937 or 410-260-7980 (if calling from Central Maryland).

Maryland Cash Campaign

Maryland Cash Campaign

DO YOU HAVE HEALTH INSURANCE?

Get covered today.

Maryland Health Connection is a one-stop shop to enroll in a private health or dental plan, Medicaid or, or the Maryland Children’s Health Program (MCHP).

Many people can enroll now.

Even though open enrollment has ended for 2024 plans, you may be able to get covered if you’ve recently experienced a major life event such as losing your job-based health coverage, getting married or divorced, or turning 26 and moving off your parent’s insurance. See if you’re eligible at: marylandhealthconnection.gov/howto-enroll/special-enrollment/. If you qualify for Medicaid, you can enroll anytime.

  • If you bought a health plan through Maryland Health Connection and got financial help paying your premiums, you MUST file taxes.
    Tell Maryland Health Connection about any changes in your income or household so you receive the right amount of financial help. Otherwise, you could owe more at tax time.
     
  • Bring Form 1095 to your tax preparer.
    You’ll receive Form 1095 from anyone who provides you with health insurance, including your employer, your health plan, or Maryland Health Connection.

Maryland Health Connection

For more information, visit:

www.marylandhealthconnection.gov

or call

855-642-8572.

If you have difficulty using a standard telephone, call Maryland Relay at 7-1-1.