Tax Law (Questions About Taxes)/EITC


Hi- I am in the middle of doing my taxes (via taxact online) and have a question about the EITC. My wages were roughly $7000 from self-employment (1099-misc) which left me owing $377. I seem to qualify for EITC ($475) but it did not lower the amount I owe.

does that make sense? or have I misunderstood the EITC?

thank you so much for any help-


Thanks for your question.

No, that does not make sense.  The EIC is a refundable credit, meaning that it should reduce your tax liability and (in your case) generate a refund for you.  Apparently you have checked a box incorrectly or something, because it sounds as if you qualify, based on what you told me.

Hope this helps.

John Stancil, CPA

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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