Who is eligible for the Earned Income Tax Credit (EITC)?

The Earned Income Tax Credit (EITC) is designed to provide financial relief primarily to low-income working families and individuals. This refundable tax credit aims to reduce poverty and provide an incentive for people to work, effectively allowing those with lower income to receive a greater return on their taxes when they file.

Eligibility for the EITC is based on income level, and it specifically targets those who earn income through employment or self-employment. It is important to note that not all taxpayers qualify, as the EITC phases out entirely at higher income levels, focusing its benefits where they are most needed.

Furthermore, while families with children have higher credit amounts and benefits under the EITC, individuals without children can also qualify as long as they meet the income requirements and other stipulations set by the IRS. Therefore, the primary eligibility criterion is being a low-income working family or individual, which aligns perfectly with the correct answer.