United States: know how much is the amount that a worker could receive with the EITC

Millions of low- and moderate-income workers in the United States have a great opportunity to enroll in the Earned Income Tax Credit (EITC), also known as the Earned Income Tax Credit. Through this mechanism, taxpayers will benefit in the area of taxes. Here we tell you how much an employee can receive with this campaign.

It must be taken into account that the Internal Revenue Service (IRS) informed about some tax benefits that millions of employees could have through the EITC. So we have that this will help taxpayers to reduce their taxes or increase their refund.

He also specified that the workers who could benefit are those with low or moderate income.

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In this regard, he noted that this Earned Income Tax Credit it’s for the people who have won 59,187 US dollars or lesser figures during the 2022.

WHAT IS THE EARNED INCOME TAX CREDIT?

Earned Income Tax Credit (EITC) has caught the attention of millions of employees in the United States.

As indicated by the IRS itself, the EITC helps low to moderate income workers and families qualify for a tax credit. If the taxpayer qualifies, they can use the credit to reduce the taxes they owe or increase their refund.

For his part, Doug O’Donnell, IRS commissioner, gave more details on the subject, according to El Diario. In a sense, he said that the EITC is a very important tax credit that helps millions of workers each year.

“In particular, people who experienced a major life change in the last year, in their job, marital status, a new child or other factors, may qualify for the first time. The IRS urges people to carefully review this important credit; we don’t want people to miss out”, he expressed according to the aforementioned media.

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UP TO HOW MUCH CAN I RECEIVE WITH THE EITC?

Every taxpayer should take into account that their income and the number of children they have will determine the amount of the credit that will be given. In this sense, if we refer to 2022, we will say that the following figures were delivered according to Blog Turbotax.

• With three qualifying children or more: $6,935.
• With two qualifying children: $6,164.
• With a qualifying child: $3,733.
• No qualifying children: $560.

About, univision maintained that in 2021 people who did not have qualifying minors received $1,502 and in 2022 the amount decreased. Likewise, it revealed what taxpayers could receive this year if they qualify for this credit and if they file jointly:

• If you do not have children: gross income up to $16,480, up to $22,610 will be received
• If you have 1 child: gross income up to $43,492, up to $49,622 will be received
• If you have 2 children: gross income up to $49,399, up to $55,529 will be received
• If you have 3 or more children: gross income will be received up to $53,057

WHO QUALIFIES FOR THE EITC?

According to the IRS page, people who qualify are those who have a low or moderate income. In this sense, it specifies that the amount of your credit may vary if you have children, dependents or are disabled.

HOW CAN I CLAIM THE EITC?

Workers who are qualified as eligible have the possibility to claim the EITC. To do this, they need to file a tax return.

After that, you must follow the trace of the refund through the platforms. Where is my refund? or the IRS2Go Mobile App.