Income Tax 1099G Insert - Unemployment Insurance
The Earned Income Tax Credit (EITC) is a tax benefit for people who work full-time or part-time.
Workers can receive up to $6,660, depending on income and family size. Households may qualify for the federal and state EITC if, in 2020, you:
- Earned less than $50,954 ($56,844 married filing jointly) with three or more qualifying children
- Earned less than $47,440 ($53,330 married filing jointly) with two qualifying children
- Earned less than $41,756 ($47,646 married filing jointly) with one qualifying child
- Earned less than $15,820 ($21,710 married filing jointly) no children
Tax Year 2020 maximum credit:
- $6,660 with three or more qualifying children
- $5,920 with two qualifying children
- $3,584 with one qualifying child
- $538 with no qualifying children
Investment income must be $3,650 or less for the year.
Here’s how you get the earned Income tax credit:
If you were raising children in your home in 2020, file federal tax form 1040 and attach Schedule EITC. For the Maryland EITC, file tax form 502.
Call 2-1-1 or 1-800-492-0618 for more information about the Earned Income Tax Credit and about locations for FREE tax preparation.
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Maryland Health Connection is a one-stop shop to enroll in a private health or dental plan, Medicaid or MCHP. It’s the only place you can get financial help with the cost of health coverage. Last year, 9 out of 10 people qualified for free or low-cost coverage.
Many people can enroll now.
Even though open enrollment has ended for 2021 plans, you still 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 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.
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