The Earned Income Tax Credit is the federal government’s largest refundable federal income tax credit for low- to moderate-income workers. See the IRS EITC news release for information on how to check eligibility, to see a list of workers who may be at risk for overlooking this important credit, helpful IRS YouTube videos and more.
New look-back rule
Under the COVID-related Tax Relief Act of 2020, taxpayers can use their 2019 earned income to figure their 2020 EITC if their 2019 earned income was more than their 2020 earned income. To qualify for EITC, people must have earned income, so this option may help workers who earned less in 2020, or received unemployment income instead of their regular wages, get bigger tax credits and larger refunds in the coming year.
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