EITC



There is important news today that the IRS announced. Many changes have been made for the EITC (Earned Income Tax Credit). More people now qualify, and this is the federal government’s largest refundable tax credit for low- to moderate- income families. For 2021 only, more childless workers and couples can qualify for the EITC. The EITC is generally available to filers without qualifying children who are at least 19 years old with earned income below $21,430; $27,380 for spouses filing a joint return. The maximum EITC for filers with no qualifying children is $1,502, up from $538 in 2020. This year’s EITC is better than previous years because in the past, the EITC for those with no dependents was only available to people ages 25 to 64. If you are wondering how to claim the EITC, avoid errors, and when to look for refunds, then please feel free to reach out to us here at XQ CPA at (832) 295-3353. To learn more, you can follow this article. https://www.irs.gov/newsroom/eitc-awareness-day-important-changes-mean-more-people-qualify-for-credit-that-helps-millions-of-americans

irs.gov

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