There are millions of Americans that are younger or seniors who could qualify for an tax credit worth as much as $6,935 from the IRS.
This is under the Earned Income Tax Credit, which works to benefit working families making a low to moderate income.
Anyone age 19 and older may apply for the EITC.
Now, 18-year-olds that just left foster care and were at risk for becoming homeless may also claim the credit.
The most a person can get is $6,935, but what they end up getting depends on their own income, number of dependents, and filing status.
A family of three could see as much as $6,728, according to The Sun.
If a family of three has an AGI of $57,414 they will see the entire amount.
A family with just one dependent could see as much as $3,733.
Qualifying for EITC from the IRS
You need to have at least $1 earned to qualify for the credit from working for yourself or an employer.
You must also have under $10,000 in investment income for the current tax year.
A SSN is necessary to qualify.
Your SSN must be valid for working before you file your tax return.
You need to be a U.S. citizen or resident alien for the entire year.
Rules differ for disabled Americans and military members.
EITC changes in 2021
The Biden Administration changed the maximum credit for those collecting the credit without kids from $538 to $1,502.
If Americans believe they may have qualified but did not claim it they may file an amended return.
Returns were allowed to be submitted starting Jan. 24.
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