Here is the Earned Income Tax Credit income limit threshold and phaseout table for the 2025 tax year: Again, note that the “threshold phaseout amount” is the amount of AGI (or, if greater, earned income) above which the maximum amount of the credit begins to phase out. The “completed ...
Earned Income Credit (EIC) Inputs Press spacebar to hide inputs[-] Filing Status: Number of qualifying children: 0 1 2 3 Earned income: $0 $1k $5k $20k Self employment income: $0 $1k $5k $20k Scholarships, penal & retirement income: ...
Use this EIC Calculator to calculate your Earned Income Credit based on the number of qualifying children, total earned income, and filing status
If you earned less than $66,819 (if Married Filing Jointly) or $59,899 (if filing as Single, Qualifying Surviving Spouse or Head of Household) in tax year 2024, you may qualify for the Earned Income Credit (EIC). These amounts increased from $63,398 and $56,838, respectively, for ...
» MORE: See if you also qualify for the child tax credit or the child and dependent care credit How to qualify for the earned income credit To qualify for the EIC, you must have made at least $1 of earned income. There are also other rules. Here are the big ones: Investment incom...
Investment Income Limit $10,000 or less Note for 2021 Returns and the EIC:As part of thethird stimulus bill or American Rescue Plan Act (ARPA), the EITC became more beneficial for low to moderate income taxpayers on 2021 returns. Specifically, the credit was significantly more helpful for si...
Understanding the Earned Income Tax Credit (EITC) The earned income tax credit (EITC), also called the earned income credit (EIC), was intended as a work bonus plan to increase the real spending power of low-income workers and help offset the effect of Social Security taxes.It continues to...
The Earned Income Credit (EIC) is a valuable, refundable tax credit available to low and moderate income taxpayers and families. If your EIC was disallowed or reduced for reasons other than math or clerical errors after 1996, you may need to file Form...
Earned income credit (EIC). The earned income tax credit (EIC) reduces the income tax that certain low-income taxpayers would otherwise owe. It's a refundable credit, so if the tax that's due is less than the amount of the credit, the difference is paid to the taxpayer as a refund....
The earned income tax credit (EITC), when first enacted on a temporary basis in 1975, was a Specialist in Public Finance modest tax credit that provided financial assistance to low-income, working families with children. After various legislative changes over the past 45 years, the credit is...