More than 26 million workers in the USA received nearly $61 billion in EITC money in 2012. The average EITC credit was $2,200.
This year, the maximum EITC credit is worth up to $5,891.
When the EITC tax credit is more than the amount of taxes you owe, you can get a tax refund – if you claim it. To claim the refund, you must file a tax return, even if you do not owe any tax and are not required to file.
The EITC is often overlooked. To see if you qualify, go to EITC Assistant.
“EITC is a financial boost for working people in a recovering economy,” said an IRS official.
To be eligible, taxpayers must have:
- A Social Security number
- Income from work, and
- An adjusted gross income of less than
- *$45,060 ($50,270 married filing jointly) with three or more qualifying children
- *$41,952 ($47,162 married filing jointly) with two qualifying children
- *$36,920 ($42,130 married filing jointly) with one qualifying child
- *$13,980 ($19,190 married filing jointly) with no qualifying children
You can receive up to:
- *$5,891 with three or more qualifying children
- *$5,236 with two qualifying children
- *$3,169 with one qualifying child
- *$475 with no qualifying children
(A taxpayer with no qualifying children may claim the credit if he or she is between 25 and 64 years of age by the end of the tax year and has been a resident of the U.S. for more than half of the tax year).