The Earned Income Tax Credit is a federal tax benefit for workers with low or moderate incomes, regardless of whether they have children. Also known as the Earned Income Credit, th

If you are a low- or middle-income earner, you may be eligible for hundreds or even thousands of dollars in your 2024 tax refund through the Earned Income Tax Credit (EITC).” However, roughly one in five eligible taxpayers miss out on claiming the credit because they don’t know they’re eligible, according to IRS.

The federal earned income tax credit celebrates 50th anniversary. Yet, IRS estimates one in five eligible taxpayers miss out on claiming the credit.

With the Internal Revenue Service now accepting 2024 tax returns some taxpayers are already counting down the days until they receive their refund. However, the IRS says taxpayers who claim a pair of tax credits might be waiting longer than anticipated to receive their money.

About one in five eligible filers overlook this credit, the IRS said. Certain filers can receive up to $7,830 more back in their refunds when claiming the credit.

The federal Earned Income Tax Credit is designed for low to moderate-income wage earners and is fully refundable, meaning even those who do not earn enough money to have taxes withheld are eligible. The Internal Revenue Service is reminding tax filers about a key credit worth up to $7,830.

There is a sizable tax credit for low- and moderate-income families, but the IRS estimates a fifth of eligible taxpayers fail to take advantage of the tax break each year. The Earned Income Tax Credit (EITC) was signed into law and is designed to “lift many financially challenged families out of poverty,

As the 2025 tax season begins, understanding the Earned Income Tax Credit (EITC) can significantly enhance your financial outcome.