The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may give you a refund.
To receive the Earned Income Tax Credit, you must be eligible and file your taxes.
To see if you are eligible for the Earned Income Tax Credit, you can use the IRS's EITC Assistant. Select the year you are filing taxes for and your preferred language.
|Filing Status||Qualifying Children Claimed||Qualifying Children Claimed||Qualifying Children Claimed||Qualifying Children Claimed|
|0||1||2||3 or More|
|Single, Head of Household or Widowed||$15,820||$41,756||$47,440||$50,954|
|Married Filing Jointly||$21,710||$47,646||$53,330||$56,844|
Tax Year 2020 earned income and adjusted gross income must each be less than the numbers above to qualify for the Earned Income Tax Credit.
Maximum Credit Amounts-the maximum amount of credit for Tax Year 2020 is:
- $6,660 with three or more qualifying children
- $5,920 with two qualifying children
- $3,584 with one qualifying child
- $ 538 with no qualifying children