EITC tax credit table or Earned Income Tax Credit table presents various conditions that a taxpayer must fulfill to claim EIC credit . For example ,there is a limit on the maximum amount of EITC tax credit that you can claim. Then, you must satisfy the age limit and also minimum earned income as well as maximum investment income that a claimant of EIC credit can have. Also note that you must file tax return for claiming this tax credit.This page will have all the necessary limitation figures in EIC tables.The EITC figures for these limitations are for two years – tax year 2022 (filing April 2023) & 2023 (Filing April, 2023 )tax return:
2022 EITC Tax Credit Table -Max Credit ,Max AGI ,Phaseout Threshold
| No of Children | Maximum Credit Possible | Minimum Earning Required | Maximum AGI above which you don’t get eitc | Maximum AGI above which you dont get eitc | Phaseout Begins | Phaseout Begins |
| All others | Married Filing Jointly | All others | Married Filing Jointly | |||
| One | 3,733 | 10,980 | 43,492 | 49622 | 20130 | 26260 |
| Three or More | 6,935 | 15,410 | 53,057 | 59187 | 20130 | 26260 |
| Two | 6,164 | 15,410 | 49,399 | 55529 | 20130 | 26260 |
| Zero | 1,502 | 9,820 | 21,430 | 27380 | 11610 | 17560 |
In case of tax year 2022 , it must be noted that the Build Back Better Act (BBBA; H.R. 5376) passed on November 19, 2021 extended the 2021 expansion of the earned income tax credit (EITC) through the American Rescue Plan Act (ARPA, P.L. 117-2) for taxpayers without qualifying children for one year—2022. So, BBBA extended the maximum credit available to childless tax paers to $1,502 from $600 and also brought in relaxation in age for the claimaints.
2023 EITC Tax Credit Table- Max Credit & Phaseout Threshold
| Children or Relatives Claimed | Max Credit | Min Wage Earning | MaxAGI above which you don’t get EITC | Max AGI above which you don’t get EITC | Phase Out begins | Phase Out begins |
| Minimum Earning | All others | Filing as Married Filing Jointly | All others | Filing as Married Filing Jointly | ||
| Zero | 600 | 7840 | 17640 | 24210 | 9800 | 16370 |
| One | 3995 | 11750 | 46560 | 53120 | 21560 | 28120 |
| Two | 6604 | 16510 | 52918 | 59478 | 21560 | 28120 |
| Three or More | 7430 | 16510 | 56838 | 63398 | 21560 | 28120 |
EITC Tax Credit Table – Age ,Investment & Other Limits for 2022 & 2023
| Particulars | Tax Year 2022 | Tax Year 2023 | |
| Minimum Age | General 25 years But BBBA relaxed this criteria >19 years for most workers >24 years for part-time students >18 years for former foster youth and homeless youth | ||
| Maximum Age | No Restriction* ( due to BBBA) | 64 Years | |
| Maximum Investment Income | $10,600 | $11,000 |
The genral rule on age of the low income earner is that the minimum age should be 25 and maximum age of the claimant is 64 years. The ARPA or American Rescue Plan Act relaxed the age for tax year 2021 . This was extended to year 2022 through BBBA .
EITC Tax Credit Table -Other Conditions 2022 & 2023
- You must have worked and earned income under a thresold as given below in 2022 and 2023 chart.
- You must have a valid Social Security number (SSN) by the due date of your 2021 return (including extensions)
- You must be a U.S. citizen or a resident alien all year
- You did not file Form 2555 (related to foreign earned income)
Have you tested our calculator for EITC tax credit for 2022 & 2023 ?