
On January 31, join TAS and the IRS as we celebrate Earned Income Tax Credit (EITC) Awareness Day. The Tax Reduction Act of 1975 introduced EITC as a modest tax break to provide financial help to economically challenged families and encourage work. Over the past 50 years, this tax credit has grown into the government’s largest refundable tax credit program for low- to moderate-income workers.
The EITC has provided a financial boost to millions of families. As of November 2024, approximately 23 million workers and families received about $63 billion from the EITC. This gives them a much-needed monetary lifeline because claiming the credit can reduce the tax owed or may also give a larger refund. However, it is important to note that under the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue a refund involving the EITC before mid-February.
Many people don’t know they qualify for the credit, leaving millions without this important financial help. That’s why TAS has put together some resources to help you understand who’s eligible, how to get help, and how to navigate the EITC. We encourage you to share these links and help those who qualify get this important tax credit.
Want to get the latest tax news, learn more about taxpayer rights, and upcoming TAS events while looking at cute dogs and pop culture references? Look no further than TAS Social Media. Follow, like and share our content to help spread the work on how we advocate for taxpayers!