Earned Income Tax Credit -- Are you eligible?
The IRS wants to give you the windfall you deserve!!!
EITC could put an extra $2 or up to $6,660 into the pockets of eligible taxpayers (even more if they live in a state with a similar state credit). This is money taxpayers can use to make their lives a little easier now or money they can put away for a rainy day.
But workers must file a tax return and claim the credit to receive it. And, that all begins with awareness of EITC.
Did you know that:
- Nationwide during 2020, 25 million eligible workers and families received about $62 billion in EITC
The average amount of EITC received nationwide was about $2,4611
Are you eligible?
- EITC is for workers whose income does not exceed the following limits in 2020:
- $50,954 ($56,844 married filing jointly) with three or more qualifying children
- $47,7440 ($53,330 married filing jointly) with two qualifying children
- $41,756 ($47,646 married filing jointly) with one qualifying child
- $15,820 ($21,710 married filing jointly) with no qualifying children
** Investment income must be $3,650 or less
- Children must meet certain relationship, age, residency and joint return requirements to be a qualifying child.
- See if your child qualifies you for EITC; see "Qualifying Child Rules" on irs.gov or Publication 596.
Take the credit you’re due. The EITC credit ranges from:
- $11 to $6,660 with three or more qualifying children
- $10 to $5,920 with two qualifying children
- $9 to $3,584 with one qualifying child
- $2 to $538 with no qualifying children
About one-third of the EITC eligible population turns over each year, so check your EITC eligibility today at www.IRS.gov/eitc.
- EITC can be a boost to you, your family and community. Anyone with earnings of $55,844 or less should see if they qualify at www.IRS.gov/eitc or visit a volunteer tax assistance site.
- Four of five eligible workers claim and get their EITC.
- We want to raise that number to five out of five.
You earned it, "now file, claim it and get it." See if you qualify at www.IRS.gov/eitc.