The Earned Income Tax Credit was made available to more Americans by the IRS in 2021 and was worth as much as $6,728.
The IRS did this in an attempt to help Americans who have been struggling since the start of the pandemic.
The EITC is designed to help working families with low to moderate household incomes.
Who can claim the earned income tax credit from the IRS?
What you claim depends on the number of dependents you have as well as your yearly income for 2021.
If you owe taxes this credit can lower or pay them, or it can increase your refund.
This year people without children may claim the credit.
Another change was bringing the minimum from $560 to $1,502 for the credit.
Workers may also put their 2019 income on their returns to see a bigger credit.
Thresholds for claiming this credit from the IRS
You can get $1,502 as a taxpayer without children. You must have a single income of $21,430 or less, or a joint income of $27,380 or less.
If you have one child you can claim $3,618 with a single income of $42,158 or less, or joint income of $48,108 or less.
Two children can get you $5,980 with a single income of $47,915 or less, or joint income of $53,865 or less.
Three or more children max the credit out at $6,728 if you have a single income of $51,464 or less, or joint income of $57,414 or less.
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