The IRS is urging tax filers to take advantage of the Earned Income Tax Credit (EITC), which can provide up to $7,830 for eligible low to moderate-income workers. The IRS noted that “one in five eligible taxpayers” often overlook this credit, resulting in missed financial benefits. As of December 2024, approximately 23m families received around $64bn from EITC, with an average refund of $2,743 for the 2023 tax year. Eligibility criteria include income limits based on filing status and the number of children, with specific rules for military personnel and those with disabilities. Taxpayers can expect refunds within 21 days if filed electronically, but those claiming EITC may experience delays due to identity verification processes. Refunds should be available by March 3rd, provided there are no issues with the return.
What to know about qualifying for the Earned Income Tax Credit
52 responses to “What to know about qualifying for the Earned Income Tax Credit”
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