How to claim your Earned Income Tax Credit in 2021

Written by on November 21, 2020

The one factor higher than lowering your tax invoice is getting a reimbursement from the IRS. If there’s one provision of the tax legal guidelines that gives the very best likelihood for the most individuals to get a refund test from the federal authorities, it is the earned revenue tax credit score.

The EITC – typically known as the earned revenue credit score or EIC – is likely one of the most beneficiant tax credit obtainable. It is geared towards working folks with low to average incomes, and for some households, it may possibly supply as a lot as $6,728 in chilly arduous money.

But regardless that roughly 30 million individuals are possible eligible to get no less than some cash from the EITC, the IRS estimates that about 6 million taxpayers go away the credit score unclaimed annually. You should not be considered one of them. Under, we’ll go into the small print of the earned revenue tax credit score and what you’ll want to know to say it in 2021.

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