Millions of Americans are about to miss out on a huge tax credit, even though they might be eligible for a refund as high as $7,830. The Earned Income Tax Credit (EITC) is yet unclaimed for this year, and the last date to file your return is April 15, 2025.
The Internal Revenue Service (IRS) has set out a call to everyone who has not submitted a return yet to do the same. Mostly, this incentive serves those with an income that goes from marginal to moderate; particularly, families with kids are the aim. However, a large number of eligible taxpayers are still left to claim it.
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If you comply with only two of the rules — earned income and filing a tax return — you might as well receive money even when you don’t own anything.
The labels under which one is eligible, the amount that can be obtained and the actions in case the situation gets out of hand are the three major areas of discussion for the rest of the document.
How Does the Earned Income Tax Credit Work?
The EITC is such a tax credit, your benefit is paid even though you do not owe any tax, and thus, you qualify for a refund. The EITC is the name of the financial aid that was put into practice for the low-to-moderate salaried workers in the U.S. of A.
As per the IRS, the 2024 tax year’s maximum credit is:
- $7,830 for those with three or more children
- It becomes smaller for persons with a smaller number of or no dependents
The payment size is the amount of the:
- Filing status
- Adjusted Gross Income (AGI)
- Number of qualifying children
Who Is Eligible for the EITC in 2025?
To qualify, you have to fulfil a few basic requirements:
- Have you worked or been self-employed in 2024 and received your income?
- Be a U.S. citizen or a resident for tax purposes throughout the whole tax year
- Have a valid Social Security number
- Have the income below the limit
Shown here are the income limits for 2025 (2024 tax year) that will entitle one for the EITC according to the IRS eligibility table:
- $66,819 is the maximum income for a married couple with three or more children who choose to file jointly
- $63,398 for a head of household with two children
- $46,560 is the income below which a person, who is a single parent, can receive the EITC
- $18,591 for individuals with no children
You must not have more than $11,600 in investment income in 2024 as well.
Why the April 15 Deadline Matters
To claim the credit, you have to file your federal income tax return for 2024 by April 15, 2025.
If you don’t submit your return by this date and don’t ask for an extension, you may be ineligible for receiving the funds.
If you are one of the people who have missed from the system for a long period of time or never filed a tax return, it is time for you to gather yourself, as it will be a big loss if you don’t file on time and lose the EITC.
Although you may need to file for an automatic extension using Form 4868, you should do so before April 15. The method of filing is provided in the IRS website where you can also get the IRS Free File page details.
How Much Could You Get?
Your eligibility for the support you get is a factor based upon the number of children in your charge and the amount of income you earn. Here is a rough idea:
- No children: Up to $632
- 1 child: Up to $4,213
- 2 children: Up to $6,960
- 3 or more children: Up to $7,830
The numbers shown are the maximum. The actual amount of the credit has to be figured out with a sliding scale and it also means that the credit will diminish as the earnings increase.
Why the Benefit Might Escape You
Every year, the IRS notifies that a significant number of people who could claim the EITC are still not doing so. Some do not believe they are eligible, while others think that they need to have a tax bill to get a refund. And there are also those that don’t file because their earnings are low.
However, if you don’t file, you won’t receive any kind of credit. Moreover, it has been reported that many still do not claim EITC from 2021 or 2022, and the deadline for those years is the same, i.e. April 15.
Find out more about how you can claim the tax credits from the previous year and go to the IRS EITC Awareness page.
Last Call: Be Sure to Submit Your Application Before It Becomes Ineffective
Time is running out. You should check if you qualify for the Earned Income Tax Credit and submit your income tax return by April 15, 2025.
With only one payment, you could benefit from a refund that might be thousands of dollars, no matter how small your income is. To many working families, it is the main if not only financial boost they will receive for the year.
Don’t procrastinate. Take that which you have the right to. To see if you qualify for the money and initiate the process, go to IRS.gov.
