EITC; Earned Income Tax Credit; outreach; tools 2020_04_14_Patriotic_Image Outreach Connection February 02, 2024 SPECIAL EDITION OUTREACH CONNECTION FY24-04 - EARNED INCOME TAX CREDIT TOOLKIT The IRS is committed to assisting millions of low- and moderate-income workers in claiming the Earned Income Tax Credit (EITC).  The agency invites tax professionals, community organizations, elected officials, state and local governments, schools, employers and other interested parties to join this national grassroots effort to help the IRS reach the broadest number of eligible taxpayers, including underserved and newly eligible taxpayers. Please help by sharing the information in this helpful toolkit covering information about the credit, who qualifies to receive it and helpful resources located on IRS.gov. IN THIS EDITION: 1. What to know about EITC 2. Who qualifies to receive the credit 3. Helpful tools on IRS.gov - WHAT TO KNOW ABOUT EITC - Grandmother with two grandchildren - Although the IRS provides EITC information during the filing season, factors such as changes in earnings, parental or marital status can affect taxpayer eligibility. For that reason, outreach and education related to EITC is conducted year-round. The IRS wants to capture the attention of those who are eligible for EITC and encourage them to find out whether they qualify for additional refundable tax credits. The EITC is the federal government’s largest refundable tax credit for low - to moderate-income workers. Congress originally enacted the legislation in 1975 to offset the burden of social security taxes and provide an incentive to work.  Nationwide, as of December 2023, approximately four out of five eligible taxpayers claimed the EITC and approximately 23 million workers and families received about $57 billion in EITC. This means millions of taxpayers are putting EITC dollars to work for them. Unfortunately, about one in five eligible taxpayers are not taking advantage of the EITC. Also, almost a third of those who qualify for EITC became eligible for the first time this year due to changes in their marital, parental or financial status. Related news release: IRS, partners highlight EITC Awareness Day with tax resources that benefit millions of low- and moderate-income workers Related video on YouTube: Get to Know the Earned Income Tax Credit and How it Can Help You Related vertical videos on YouTube: * Earned Income Tax Credit * EITC can benefit people experiencing homelessness * EITC Assistant - WHO QUALIFIES TO RECEIVE EITC - mother and son - For tax year 2023, the EITC is as much as $7,430 for a family with three or more children or up to $600 for taxpayers who do not have a qualifying child. To qualify for the EITC, workers must have earned income and adjusted gross income within certain limits and meet specific rules. Additionally, the worker must meet the criteria for those without a qualifying child or have a child who meets all the qualifying child rules. The IRS urges workers who earned $63,398 or less in 2023 to verify if they qualify for the EITC. This includes wage and self-employed earners. Taxpayers can verify if they qualify by visiting Earned Income Tax Credit (EITC) on IRS.gov. Also, IRS encourages workers to complete their taxes using the IRS Free File program or at a local free tax preparation site. These sites are staffed by IRS-trained community volunteers and help taxpayers verify eligibility for the credit. For more information check out the EITC Assistant to see if you qualify or visit Child-Related Tax Benefits Comparison for basic eligibility rules. Related tax tip: Tax credits and deductions for individuals Related publication: Earned Income Credit, Publication 596 Related vertical videos on YouTube: * Earned Income Tax Credit, The wait is worthwhile * Earned Income Tax Credit, #awardseason * Use the EITC Assistant - HELPFUL TOOLS ON IRS.GOV - woman on a laptop sitting down - Here are helpful tools on IRS.gov: * The Earned Income Tax Credit is a boost to help you with your bills, fix up your place or save for a rainy day. * Do you have a child that qualifies you for the EITC? Check out the Interactive Tax Assistant to see if you also qualify for the child tax credit or the credit for other dependents. * No children or no qualifying children? You may still qualify for the EITC Check out the EITC Assistant to see if you qualify. * Did you earn less than $63,398? Then you may be eligible for the Earned Income Tax Credit. * There are special Earned Income Tax Credit rules for members of the military, members of the clergy, and taxpayers with certain types of disability income or a child who is disabled. * EITC errors can cost you. Choose your tax preparer wisely. - FaceBook LogoYouTube LogoInstagram LogoTwitter LogoLinkedIn Logo Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your . You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact . This service is provided to you at no charge by the Internal Revenue Service (IRS). - This email was sent to [email protected] by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535 GovDelivery logo