The earned income tax credit is worth up to $1,502 this year, but one in five taxpayers who qualify for it are denied by the IRS.
Those that made under $57,414 in 2021 could qualify, because it’s designed for low to moderate income taxpayers.
What you get back depends on many factors.
This includes how many children, dependents, or disabled household members are claimed.
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How much can I get from the IRS with the EITC?
The amount you see depends on that and your income.
If you have no children and your income is $21,430 or less you qualify.
Married couples with no kids and less than $27,380 qualify.
When is my 2022 state tax return due?
If you have one child and make less that $42,158 you could see $3,618.
Married couples with one child can’t make more than $48,108.
If you file single or head of household you can see $5,980 for two children if your income is under $47,915.
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Married couples filing with two kids can’t make over $53,865.
If you’re single and have three kids, you could get $6,728 with an income of $51,464 or less.
The income cap for married couples with three or more kids is $57,414.
Why might people be denied by the IRS for this tax credit?
There are often common errors people make when they try to claim the EITC.
If you claim a child they need to be related to you, live in your home for over 6 months of the tax year and under age 19 by the end of the year.
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If you claim a child under 24 they must be a full time student for 5 months of the tax year.
You cannot claim a child who is already being claimed.
Be sure the Social Security number for the child is correct.
You cannot claim the credit if you’re married filing separately.
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