It's EITC Awareness Day! This tax season, you could be eligible for EITC depending on your income or household. If you have earnings of $55,952 or less, you should see if you qualify online or visit one of our VITA program sites.
If you qualify for EITC, you must file a federal income tax return and claim the credit to get it, even if you owe no tax or aren’t required to file a return. Our VITA program can help you prepare your taxes and find out if you qualify for EITC!
What is EITC?
Earned Income Tax Credit (EITC or EIC) is a benefit for people within a certain income range that can put anywhere from an extra $2-$6,557 into the pockets of those who are eligible. So if you qualify, it could mean a little extra monetary boost this tax season.
The credit amounts vary depending on filing status and/or number of children. EITC serves as a boost to workers, their families, and communities where they live. The funds from the credit can be saved for a rainy day, or put towards some much needed, but more expensive, purchases or projects.
Do You Qualify?
If you qualify for EITC, you must file a federal income tax return and claim the credit to get it, even if you owe no tax or aren’t required to file a return.
EITC is for workers whose income does not exceed the following limits in 2019:
- $50,162 ($55,952 married filing jointly) with three or more qualifying children
- $46,703 ($52,493 married filing jointly) with two qualifying children
- $41,094 ($46,884 married filing jointly) with one qualifying child
- $15,570 ($21,370 married filing jointly) with no qualifying children
- ** Investment income must be $3,600 or less
Take the credit you’re due. The EITC credit ranges from:
- $11 to $6,557 with three or more qualifying children
- $10 to $5,828 with two qualifying children
- $9 to $3,526 with one qualifying child
- $2 to $529 with no qualifying children
Need Help Filing Taxes?
We can help! Tax Preparation Assistance (VITA): In collaboration with several community partners, including CSU Chico, CAA provides tax preparation assistance to hundreds of people each year, under an IRS-guided service known as VITA (Volunteer Income Tax Assistance).
The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $56,000 or less, persons with disabilities, the elderly and limited English speaking taxpayers who need assistance in preparing their own tax returns.
Learn more about this years’ program here.
Some Statistics on EITC
The EITC and CTC greatly reduce poverty for working families. These working-family tax credits lifted 8.9 million people out of poverty in 2017, including 4.8 million children, and made 20.2 million other people less poor.
- Nationwide during 2019, 25 million eligible workers and families received about $63 billion in EITC
- The average amount of EITC received nationwide was about $2,4761