WASHINGTON — The Internal Revenue Service and partners around the nation today celebrated the 50th anniversary of the Earned Income Tax Credit (EITC) with the launch of this year’s EITC Awareness Day campaign.

U.S. citizens should be aware of the potential financial boost from the IRS's Earned Income Tax Credit (EITC). This credit offers a valuable opportunity to ease financial burdens and simplify tax obligations.

The federal Earned Income Tax Credit is designed for low to moderate-income wage earners and is fully refundable, meaning even those who do not earn enough money to have taxes withheld are eligible. The Internal Revenue Service is reminding tax filers about a key credit worth up to $7,830.

If you are a low- or middle-income earner, you may be eligible for hundreds or even thousands of dollars in your 2024 tax refund through the Earned Income Tax Credit (EITC). However, roughly one in five eligible taxpayers miss out on claiming the credit because they don’t know they’re eligible, according to IRS.

The IRS estimates one in five eligible taxpayers don't claim the earned income tax credit on their tax returns, missing out on thousands of dollars.

The 2025 tax season has officially begun, and while Americans are looking to get the most out of their returns, the Internal Revenue Service says a fifth of eligible taxpayers fail to take advantage of a massive tax break every year.