If you are a low- or middle-income person, you may qualify for hundreds or thousands of dollars on your 2024 tax refund through the Earned Income Tax Credit (EITC).
However, one in five eligible taxpayers missed out on charging a credit, according to the IRS.
As of December 2024, approximately 23 million workers and families had received approximately $64 billion from the EITC, according to the IRS. The average eligible taxpayer received $2,743 from credits for the 2023 tax year, the sister site of Silive.com reported. al.com.
The EITC is aimed at low-income taxpayers with or without children. For filers claiming children, the child must be under 19 years of age, and for students, the child must be under 24 years of age. There is no age limit for permanently disabled children. The child must also have lived with the filer for at least half the tax year.
According to the IRS, you must be a US citizen or a “resident alien” to qualify. Please file your tax return even if your income level doesn't require it. You each have a Social Security number for yourself, your spouse, and your dependents. Form 2555, submit a return without foreign earning income.
The income limits based on your filing status are as follows:
Single Filer Revenue Limit
- No children – $18,591
- 1 child – $49,084
- 2 kids – $55,768
- 3 -plus kids – $59,899
Marriages that submit income restrictions jointly
- No children – $25,511
- 1 child – $56,004
- 2 kids – $62,688
- 3 -plus kids – $66,819
To claim credit, you must be eligible and file a federal tax return. If you are eligible for an EITC refund for the past few years and do not request it, you will have three years to file and request a refund from the due date on your tax return.
If you are eligible for EITC, you may also be eligible for other tax credits.
You can decide you using this IRS tool Qualifications in irs.gov/credits.
In addition to the federal EITC, 31 states, the District of Columbia and Puerto Rico offer state tax EITCs. Find out if the state has an EITC program in the Center for Budget and Policy Priorities map.
Cities such as NYC have recently expanded their EITC programs to increase eligible refunds by several hundred dollars.
Please visit IRS Website Request EITC and other resources for eligibility details.
