SELECT Americans have only weeks remaining to get a one-time distribution worth thousands.
The added money could offer vital assistance this tax season.
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Many taxpayers have already filed their federal and state returns this year.
As the April 15 deadline looms, those yet to do the same should remain aware of tax credits they could be eligible for.
Some credits can help significantly reduce the amount owed to the Internal Revenue Service (IRS).
This includes the Earned Income Tax Credit (EITC), which could bring in as much as $7,830 this year for some who qualify.
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The IRS also noted in a news release earlier in March that at least 1.1 million Americans still have not obtained their EITC from the 2021 tax year.
About $1 billion in funds remain unclaimed, some from the credit, which had a maximum amount of $6,728 that year.
A similar deadline of April 15 also applies to the late 2021 tax return.
The 2021 return can be found on the IRS forms and instructions page.
STATUS AND INCOME
In general, EITC is available to low to moderate-income taxpayers with children.
The total amount will vary by situation, and there are some exceptions, but it mostly depends on two factors — filing status and adjusted gross income (AGI).
At least five filing statuses can help make Americans eligible for EITC.
They include single, married filing jointly, married filing separately, head of household, and qualifying surviving spouse.
For AGI, certain thresholds are determined by the IRS.
This year, those with no children or relatives claimed on their tax returns who file in any status except married jointly must not make more than $18,591 to get the EITC payment.
2025 Tax Season
Tax season started on January 27 and folks must have theirs completed filed on April 15.
Those who fail to file by that time may face penalties.
However, taxpayers who need more time may file for an extension – this gives them until October 15.
The way to do this is by filling out Form 4868, the Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.
This can be done by mail, online with an IRS e-filing partner, or through a tax professional.
While there’s no set schedule, the IRS revealed that taxpayers may receive refunds within 21 days of filing.
Just be sure to avoid making mistakes on any forms as that could tack on extra time.
Those filing through mail will likely get their returns within a month or could even face delays as the IRS processes millions.
As of January 31, the average refund amount totaled $1,928, per the IRS.
This is compared to the $1,395 for the same period in 2024.
The average direct deposit refund for 2025 was even higher, the IRS said, at $2,069.
To check the status of your refund, The IRS has an online tool called Where’s My Refund?
This works within 24 hours of e-filing and generally within four weeks of filing a paper return.
For married jointly in the same situation, it’s no more than $25,511 for the 2024 tax year.
The AGI gradually increases for one, two, and three or more children claimed, per a detailed chart on the IRS website.
Maximum AGI is for a married joint filing with three or more dependents at $66,819.
Not going over that AGI threshold for the married joint filing with three eligible dependents would result in the EITC of $7,830.
Those who had the same filing status in 2021 looking to still get their EITC worth up to $6,728 must’ve made no more than $51,464.
THINGS TO KEEP IN MIND
The highest possible EITC amounts gradually decrease with the fewer dependents claimed.
For the 2024 tax year, that would be the following:
- Two qualifying children/relatives: $6,960
- One qualifying child: $4,213
- No children: $632
Again, this is only for married joint filers.
For single filers, head of household, married filing separately, or widowed, EITC will be less.
It’s also important to remember the other basic ETIC criteria.
They include having a valid Social Security number, being a US citizen or resident alien for the entire 2024 tax year, and having an investment income below certain limits among others.
EITC is also a refundable credit, which means that any leftover cash from the potential $7,830 will be added to a refund.
The same can’t be said for partially refundable or non-refundable credits.
Of the refunds that have already gone out this year to taxpayers, they are, on average, about 32% lower than in 2024.
Those who can’t make the April 15 deadline for filing their tax returns should also keep in mind the three ways to get an extension.
