What Is the Earned Income Tax Credit (EITC)?

The Earned Income Tax Credit (EITC) is one of the most valuable tax credits for working people with low to moderate income. It's a refundable credit, meaning if it exceeds what you owe, you get the difference as a refund. The credit amount depends on your income, filing status, and number of qualifying children. For 2024, the maximum credit is over $7,830 for families with three or more children. Many eligible taxpayers miss this credit — check every year if you qualify.