The Earned Income Credit is a tax benefit that reduces the amount of taxes you owe. It may also result in a refund, depending on the eligibility requirements. EIC table can help taxpayers determine how much of the Earned Income Credit they can claim. The federal government and many state governments offer it. EITCs are work-oriented credits, meaning they are based on a taxpayer’s earnings (wages, salaries, self-employment income, etc.). They first increase as earnings rise, then plateau, and then decrease.
To be eligible, a taxpayer must have low or moderate earnings and be able to claim a qualifying child. The qualifying child must be a United States citizen, national, or resident; be under 19 years old; and live in the United States for more than half of the tax year. The EITC can help low-income families cover necessities, repair their homes, maintain vehicles, and boost their wages. However, it is important to note that the IRS can revoke a taxpayer’s eligibility for the EITC or other tax credits if the agency determines that the individual committed fraud in order to obtain them.
What Are EIC Tables?
EITC or EIC tables are a tool that can help taxpayers determine how much of the Earned Income Credit they can claim. The tables are based on many factors, such as age, earned income, adjusted gross income, filing status, whether you had no qualifying child, had one qualifying child, or had two or more qualifying children, etc. They can be accessed in the IRS Instructions for Form 1040 and 1040-SR starting on page 47, and in IRS Publication 596 Earned Income Credit (EIC), starting on page 31. These EIC tables can be updated each year automatically so that the most recent version is always available when you access them.
The EIC table can be helpful for taxpayers who have too much income to qualify for the EIC but still want to claim it. The table shows the adjusted gross income ranges from where the EIC begins to phase out to where it reaches $0 or the amount no credit is allowed. It also shows each tax year’s investment income and maximum credit amounts. This can be useful if you have significant investment income, such as capital gains or interest from stocks.
If you received nontaxable combat pay, this can be excluded from your EIC calculation. The IRS allows you to figure your EIC with or without this type of pay included.
EIC Tables for Tax Year 2024
| Children or Relatives Claimed | Filing as Single, Head of Household, or Widowed | Filing as Married Filing Jointly |
| Zero | $17,640 | $24,210 |
| One | $46,560 | $53,120 |
| Two | $52,918 | $59,478 |
| Three | $56,838 | $63,698 |
Investment income limit: $11,000 or less
Maximum Credit Amounts
The maximum amount of credit:
- No qualifying children: $600
- 1 qualifying child: $3,995
- 2 qualifying children: $6,604
- 3 or more qualifying children: $7,430
EIC Tables for Tax Year 2023
| Children or Relatives Claimed | Filing as Single, Head of Household, or Widowed | Filing as Married Filing Jointly |
| Zero | $16,480 | $22,610 |
| One | $43,492 | $49,622 |
| Two | $49,399 | $55,529 |
| Three | $53,057 | $59,187 |
Investment income limit: $10,300 or less
Maximum Credit Amounts
The maximum amount of credit:
- No qualifying children: $560
- 1 qualifying child: $3,733
- 2 qualifying children: $6,164
- 3 or more qualifying children: $6,935