Did you know if you are single making less than *$18,591 per year and/or have children you may qualify for the Earned Income Tax Credit (EITC)? Low- to moderate-income workers and those with eligible kids may be able to get an Earned Income Tax Credit.
Qualifying kids:
Learn more click here Eligible Child (IRS).
To get the Earned Income Tax Credit, you must have earned income and meet the amount Adjusted Gross Income (AGI) and credit limits for the current, past and upcoming tax years. Examples of gross income are wages, dividends, capital gains, business and retirement income. Examples of other income include tips, rent payments, interest, stock dividends, etc.
Adjusted gross income is your yearly income, minus your list of adjustments. This total is the amount of income you report on your tax forms. Examples of adjustments include half of the self-employment taxes you pay; self-employed health insurance fees; money you put into certain retirement accounts (such as a traditional IRA); student loan interest paid; teacher expenses, etc.
*2024 Tax Year Rate.
Tax year 2024
Find the maximum AGI, investment income and credit amounts for tax year 2024.
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Children or relatives claimed
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Filing as single, head of household, married filing separately or widowed
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Filing as married filing jointly
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Zero
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$18,591
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$25,511
|
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One
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$49,084
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$56,004
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Two
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$55,768
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$62,688
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Three
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$59,899
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$66,819
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Investment income limit: $11,600 or less
Maximum 2024 tax year credit amounts:
- No qualifying children: $632.
- One qualifying child: $4,213.
- Two qualifying children: $6,960.
- Three or more qualifying children: $7,830.
Check to see if you qualify for this tax benefit: Internal Revenue Service (IRS)