Opportunity Knocks: Tax Credit Available to Millions
The Internal Revenue Service is seeking opportunities to refund more money.
Yes, the IRS is giving back, and it wants to make more people aware of a tax credit that could impact millions of Americans. The Earned Income Tax Credit provides refundable tax credits to working individuals and families of low to moderate income with an emphasis on those households with children.
The amount of an EITC credit depends on the recipient’s income and number of children. In 2018, the IRS paid out $63 billion to the roughly 25 million eligible workers and families who took advantage of the credit. That averages out to $2,488 per credit.
The IRS estimates that more than 9 million people have been helped out of poverty by this credit. But many more millions are missing out. Determining your eligibility is easy. Just use the EITC Assistant tool from the IRS. Plus, the IRS has many more resources and tools to help at its EITC page.
Check it out; opportunity is knocking.