Virginia Issues Update to Earned Income Tax Credit Notice

Virginia’s Federal Earned Income Tax Credit (EITC) notice for the tax year 2018 has just been released with a revision date of 11-2018.

As we reported last month in our Virginia blog about the change to the VOSH (Safety & Health) law, we were not anticipating the EITC notice to be available until sometime in March. Because the notice has been issued early, our updated Virginia poster (coming soon to a workplace near you) will include both the VOSH and EITC notices.

What Workers Need to Know

Federal Earned Income Tax Credit

The Federal Earned Income Tax Credit notice provides new information related to income eligibility for the EITC program.

The tax year 2018, the EITC applies to work people who earn less than:

• $15, 270 ($20,950 if married filing jointly) with no qualifying children
• $40,320 ($46,010 if married filing jointly) with 1 qualifying child
• $45,802 ($51,492 if married filing jointly) with 2 qualifying children
• $49,194 ($54,884 if married filing jointly) with 3 or more qualifying children

In addition, individuals who wish to claim the tax credit may not have more than $3,500 of investment income.

For those who want free tax help and preparation, the EITC notice includes a new link to the Volunteer Income Assistance (VITA) website.

How to Keep Those Posters Coming!

As we’ve said before, because more than one change per year to our Virginia poster is the norm, we encourage you to order our 1-Year Compliance Plan, so that you will automatically receive the updated Virginia poster as soon as it is available. And because we provide free poster updates for mandatory changes, no matter how many occur during the plan year, you can always count on Poster Compliance Center to keep your business in compliance!