EARNED INCOME TAX CREDIT
WHAT IS EITC?
The EITC is a refundable federal income tax credit that provides millions of dollars in assistance to working individuals and families in West Virginia. When a return is filed, all tax liability and any setoff must be satisfied first. Then any remaining amount is refunded directly to the taxpayer. The amount of the credit varies with family size and income. For Tax Year 2023, working West Virginians making up to $63,398 may receive some amount of this refundable credit. And this year the maximum amount of the federal Earned Income Tax Credit is $7,430, for married couples filing jointly, with three or more qualifying children. Taxpayers may also be eligible to claim the Family Tax Credit, the Low-Income Earned Income Exclusion, the Senior Citizen Tax Credit, or other deductions and credits that lower their West Virginia state tax liability.
WHAT IS EARNED INCOME?
Earned income includes all taxable income gained from working. To qualify for the EITC, a person must work full or part-time and have earned income during the year. If married and filing jointly, at least one spouse must work and have earned income.
AM I ELIGIBLE?
You may be eligible for the Earned Income Tax Credit if...
You made less than $63,398 last year.
Are you over the age of 19?
Do you know you can claim EITC
for three years back?
Do you know free tax help is available?
You could be eligible to get more money back from the IRS - as much as $7,430. If your AGI (adjusted gross income) is less than $63,398 you may qualify for the Earned Income Tax Credit - or EITC.
Tax Year 2023 Income Limits
Earned income and adjusted gross income (AGI) must each be less than:
• $56,838 ($63,398 married filing jointly) with three or more qualifying children
• $52,918 ($59,478 married filing jointly) with two qualifying children
• $46,560 ($53,120 married filing jointly) with one qualifying child
• $17,640 ($24,210 married filing jointly) with no qualifying children
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Tax Year 2023 MAXIMUM CREDIT
• $7,430 with three or more qualifying children
• $6,604 with two qualifying children
• $3,995 with one qualifying child
• $600 with no qualifying children
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In addition, you must meet the following guidelines:
• Must have earned income.
• Must have a valid Social Security Number.
• Must have been a United States citizen or resident alien all year.
• Cannot be a qualifying child of another person.
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Investment income must be $11,000 or less for the year.
WHAT IS THE CHILD TAX CREDIT?
For tax year 2023 the maximum Child Tax Credit (CTC) is $2,000 per qualifying child. It is refundable up to $1,400 per qualifying child, subject to income phaseouts. New rules make the credit more available to working families, even if they did not earn enough to owe federal income taxes. The CTC can reduce or eliminate the tax you owe.
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What children can be counted?
An eligible child includes a son, daughter, adopted child, stepchild, grandchild, or eligible foster child who is less than 17 years of age and is a U.S. citizen or resident immigrant.
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Can I receive the Child Tax Credit if I receive public benefits?
CTC is not considered as income and should not affect benefits like welfare or TANF, food stamps, SSI, Medicaid, CHIP, foster care, adoption assistance, or public housing.
How can I get help filing?
Two organizations provide free assistance. IRS sponsors trained Volunteer Income Tax Assistance (VITA) volunteers and the American Association of Retired Persons (AARP) sponsors trained Tax Counseling for the Elderly (TCE) volunteers at various sites.
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How can I find the nearest VITA or TCE location?
For the nearest locations visit our VITA site map. Please call the VITA site ahead of time for hours and times of operation or visit irs.gov.
