Earned Income Tax Credit: A valuable credit that supports millions of families
The Earned Income Tax Credit helps communities by supporting hard working low to moderate income families. The EITC helps millions of eligible workers and families each year by reducing the amount of taxes owed and possibly increasing a refund.
It’s estimated that about one in five taxpayers who are eligible for EITC don’t claim this valuable credit. The average EITC amount received nationwide for tax year 2024 was $2,916.
Who qualifies
Several factors such as income, family size and filing status affect the EITC credit. In general, to be eligible the taxpayer must meet the following criteria:
Have earned income from working for someone or working themselves. Certain disability income may qualify, as well
Income level is low to moderateA valid social security number by the due date of the return
Be a U.S. citizen or resident alien all year