Definitions for "EITC"
Earned Income Tax Credit. A refundable tax credit that supplements the earnings of low- and moderate-income workers. The EITC provides families incentive to work up to x income by refunding income tax credit, increasing the familyâ€(tm)s real income.
Earned Income Tax Credit. Reduces the amount of tax low-income workers owe (if any) and offsets some increases in living expenses and social security taxes associated with being part of the workforce. As of 1996, the EITC can provide as much as $3,500 to working families with incomes below $28,000.
See "Earned Income Tax Credit."