A relief from the Social Security tax for working, low-income individuals. Congress originally approved the tax credit in 1975 to offset the burden of Social Security taxes and to provide an incentive to work. The amount of the tax credit depends upon the number of qualifying children (if any), as well as the income of the parent or guardian. To receive the credit, an individual must file a tax return. This credit does not typically have any impact on other programs such as Medicaid or welfare.