Earned income tax credit, explained
The earned income tax credit (EITC) is the government’s largest refundable federal income tax credit for low- and moderate-income workers.
In 2021, almost 25million families received over $60billion in EITC credits, with an average payment of $2,411.
For the 2022 tax year, the EITC is worth as much as $6,935 for a family with three or more children.
Workers without children can claim a maximum of $560 for 2022, down from $1,502 in the 2021 tax year.
256 total views, 1 views today