The Internal Revenue Service and its technology partners around the nation recently celebrated the 50th anniversary of the Earned Income Tax Credit (EITC) with the launch of this year’s Earned Income Tax Credit Awareness Day campaign.
The annual campaign, now in its 19th year, helps increase awareness among the millions of working Americans with a low-to-moderate income who are eligible for the EITC. The IRS estimates that roughly one in five eligible taxpayers miss out on claiming this valuable credit.
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EITC was signed into law on March 29, 1975. Through numerous legislative changes, the tax break has helped encourage work and lift many financially challenged families out of poverty.
As of December 2024, approximately 23 million workers and families had received about $64 billion total from the EITC, according to IRS statistics. On average, eligible taxpayers received $2,743 from the credit in tax year 2023.
Workers may use the EITC Assistant, an online tool, to check their eligibility, which may be affected by changes in marital, parental or financial status. Workers also may visit the Child-related Tax Benefits Comparison page to learn more about basic eligibility rules for the EITC and several other tax credits.
The Where’s My Refund? tool, which allows taxpayers to monitor the status of their refunds, will be updated with projected deposit dates for most early EITC/ACTC refund filers by Feb. 22. Most EITC or ACTC related refunds should be available in bank accounts or on debit cards by March 3 if there are no issues with a taxpayer’s return and they chose to receive their refund by direct deposit.
Whether they qualify for the EITC, taxpayers may be eligible for other valuable tax credits like the Child Tax Credit (CTC), the Additional Child Tax Credit (ACTC) or the Credit for Other Dependents (ODC). The Interactive Tax Assistant is a helpful tool for taxpayers to check their eligibility for those credits.
As a reminder, the quickest way to get a tax refund is by filing an accurate tax return electronically and choosing direct deposit as the method to receive a refund.
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Tags: eitc, Income Taxes, IRS, Taxes
MARIA TiRADO February 17 2025 at 8:02 am
Yes I would like to know if I'm going to get a refund for tax credit or whatever other thing because my taxes were taken away for 24 and another one for I don't know what year it was but they took two one was on it the other one that I owed they said there's any letters now saying that I might get money I don't know the amount when I applied how much it was if you could please help me with this that's the only way I can check refunds or something I need to know the amount that was applied to my taxes for 23 and then I did it on 24 and I need to know cuz I lost my papers so I don't know what they put down on my papers for income tax when I made them