The Earned Income Tax Credit (EITC) is a refundable federal income tax credit that can reduce the amount of taxes you owe and may also give you a refund. The EITC is intended to help low- to moderate-income workers and families. Last year, the average amount of EITC received nationwide was about $2,541. But the IRS says there are still millions of people not taking advantage of this valuable credit. How does the earned income tax credit work? The earned income tax credit (EITC) is primarily designed to provide financial assistance to working families with children. For returns filed in 2024, you can qualify for as much as $7,430, depending on your marital status, income, and number of child
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