IR-2022-46SP, March 2, 2022
WASHINGTON — The Internal Revenue Service today issued the 2021 Earned Income Tax Credit FAQs to educate eligible taxpayers on how to properly claim the credit when preparing and filing their 2021 tax return.
The Earned Income Tax Credit (EITC) helps low- and moderate-income workers and families through a credit to reduce taxes owed or an additional payment to increase a tax refund. The amount of the credit may change if the taxpayer has children, dependents, is disabled, or meets other criteria.
These FAQs detail what the EITC is, how it was expanded for 2021, which taxpayers are eligible, and how to claim it.
The 17 new FAQs are:
- What is the Earned Income Tax Credit?
- What is earned income?
- What are the earned income limits for taxpayers without qualifying children?
- How old do I have to be to claim the Earned Income Tax Credit if I don’t have qualifying children?
- Do I need to have a Social Security number (SSN) to be eligible to claim the Earned Income Tax Credit?
- Do my qualifying children need to have SSNs for me to claim the Earned Income Tax Credit?
- What are the age requirements to claim the Earned Income Tax Credit if I have a qualifying child?
- What are the earned income limits for people with a qualifying child?
- Will any refund I receive because I claimed the Earned Income Tax Credit affect my government benefits?
- What is the maximum amount of the Earned Income Tax Credit for 2021 for eligible taxpayers without qualifying children?
- Is there a limit to the amount of investment income I can earn and still be eligible for the Earned Income Tax Credit?
- If I’m not filing a joint return with my spouse, can I claim the Earned Income Tax Credit?
- Who is considered a qualified homeless youth for purposes of the Earned Income Tax Credit?
- Who is considered a qualified former foster youth for purposes of the Earned Income Tax Credit?
- Can I choose to use my 2019 earned income to figure my 2021 Earned Income Tax Credit?
- Can a student claim the Earned Income Tax Credit for 2021?
- What is a specific student for purposes of the Earned Income Tax Credit?
File taxes for free and use direct deposit
Taxpayers with incomes of $73,000 or less can file their federal tax returns electronically for free through the Program. Free File from the IRS. The fastest way to receive a tax refund is to file electronically and have it deposited directly into a financial account. Refunds can be deposited directly into bank accounts, prepaid debit cards, or mobile apps, as long as a routing and account number is provided.
More information regarding dependency is available.
IRS-FAQ
