2024 EITC Quick Reference
The Earned Income Tax Credit (EITC) is a refundable tax credit worth up to $7,830 for working families in 2024. It phases in as income rises, reaches a plateau at the maximum credit, then phases out.
| Children | Max Credit | Income Limit (Single) | Income Limit (MFJ) |
|---|---|---|---|
| 0 | $632 | $18,591 | $25,511 |
| 1 | $4,213 | $49,084 | $56,004 |
| 2 | $6,960 | $55,768 | $62,688 |
| 3+ | $7,830 | $59,899 | $66,819 |
Frequently Asked Questions
Is the EITC refundable?
Yes. If the EITC exceeds your total tax liability, you receive the excess as a cash refund. This makes it one of the most valuable credits for low-income earners.
Does self-employment income count?
Yes, net self-employment income counts as earned income for EITC purposes. You must file Schedule C and report your net profit.