There are a number of reasons why earned income tax credit is one of the best things that could happen to you. If you are not too sure whether or not you are eligible for this tax credit, all you need to do is go online and see what the rules and the eligibility status is. The rules for earned income tax credit change each year so it is very important for you to go and see what the limit for earned income credit amount earned income credit amount 2016 is. This year the amount for earned income tax credit is people who are below $50,000 each year. Since this credit is for people who are either below or on the poverty line and do not own too much money, they can save this money and use it in various other ways which can help them benefit from it and lead a much better life.When you talk about the earned income tax credit there is only one thing that you need to know. The first is the eligibility criteria for you and the second is the children who qualify to be put on your application. A qualifying child does not necessarily have to be related to both of the parents. The child can be related to either parent through law, blood or marriage. You can list your step child, your step brother, your step sister and even your grandchild as your qualifying child in the earned income tax credit application. Once you understand the rules of earned income tax credit you will be able to fill the application form quicker and be able to get an approval for your application a whole lot quicker. This will help you get the money in your account a lot more efficiently without the need to fill any additional forms.