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IRS Tax TipsMarch 21, 2024

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Issue Number:  Tax Tip 2024-19


Low to moderate income workers may be eligible for the Earned Income Tax Credit

The Earned Income Tax Credit is the federal government’s largest refundable tax credit for low to moderate income workers. Almost a third of those who qualify for the EITC became eligible for the first time this year due to changes in their marital, parental or financial status and may not realize they’re eligible.

People who earned $63,398 or less in 2023 may be eligible for this valuable tax credit.

Other workers at risk for overlooking the EITC include those:

  • Living in non-traditional homes, such as a grandparent raising a grandchild.
  • Whose earnings declined or whose marital or parental status changed.
  • Without children.
  • With limited English skills.
  • Who are veterans.
  • Living in rural areas.
  • Who are Native Americans.
  • With earnings below the filing requirement.

Taxpayers can check their eligibility and how much they qualify for at IRS.gov/eitc.

The EITC is a tax credit for certain people who work and have low to moderate income. A tax credit usually reduces tax owed and may also result in a refund.

For tax year 2023, the EITC is as much as:

  • $7,430 for a family with three or more children.
  • $600 for taxpayers who don’t have a qualifying child.

How to claim the EITC

To get the EITC, qualified workers must file a tax return and claim the credit. Eligible taxpayers should file a tax return to claim the credit even if their earnings were below the income requirement to file.

Free tax preparation help is available online and through volunteer organizations:

IRS Free File at IRS.gov/freefile.
Free in-person tax prep help.
A trusted tax professional.

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