What Is The Earned Income Tax Credit?

 

Editor’s Note: Read more about the Earned Income Tax Credit, a tax credit where 25 million eligible workers and families received about $61 billion in EITC in 2019 alone.

What is the EITC?

eicWondering what the EITC is? The Earned Income Tax Credit (EITC) is a tax credit that helps low to medium income working taxpayers. The EITC is subtracted from what you owe on your tax return and usually leads to a larger refund or less tax to pay. To claim the EITC, a taxpayer must have earned income from working.

What Will My Earned Income Tax Credit Look Like?

If you qualify for an EITC, your tax credit changes depending on the number of children you have and your income.

For 2019 tax returns, regardless of filing status, if you qualify, your maximum Earned Income Tax Credit will be:

  • $529, no children
  • $3,526, one child
  • $5,828, two children
  • $6,557, three or more children

Still Questioning “What is the EIC Credit?” We Can Help.

Still have questions about “What is the EIC” Claiming the EIC on your taxes is easier with the help of H&R Block! It just requires a few extra steps when filling out your return.

If you’re filing in an office, the experts at H&R Block can look at your personal situation and help determine if you qualify for this credit. Whether you make an appointment with one of our knowledgeable tax pros or choose one of our online tax filing products, you can count on H&R Block to help you get back the most money possible.

Related Topics

Related Resources

Emerald Advance℠ line of credit for unexpected bills

Be prepared for unexpected expenses with an H&R Block Emerald Advance® Line of Credit, which lets you borrow and repay money year-round

7 Things Smart People Never Spend Money On

Want a bigger bank account? Learn how smart people save their hard-earned cash so you can start building a better budget today.

Convenient and expert online tax help

Get online tax help without ever stepping into a tax office. Learn how Online Assist makes filing online a hassle-free experience.

Meet H&R Block Budget Challenge Classroom Grant Winner: Mrs. Sherry Brown (Part 2)

Budget Challenge winner Sherry Brown is a teacher in Guntersville, Alabama. Learn how she and her students won a toal of $227,500 in prizes!