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rorydc101
New Member

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

i should i have a much higher federal refund is this an error in the filing system
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6 Replies

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

Earned Income Credit—-the rules are back to the “old” rules—

Those under 25 and over 65 without children are not eligible as they were uniquely in 2021.   And you cannot use your income from any earlier tax year to get the EIC for a 2022 return.  There is no “lookback” for 2023.  EIC for 2023 will be based on the income you earned by working in 2023.

 

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

 

 

Look at your 2023 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rorydc101
New Member

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

That doesn't make sense it says the credit for this year is 600 and I know I qualify for it so there's no reason for me to be getting less than 600 I have been working this year and I know I made low enough to qualify

rorydc101
New Member

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

Also the earned income tax credit is supposed to be a flat amount meaning no matter what if you qualify it's supposed to be the same and I am eligible so I should have 600$

 

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

@rorydc101 The federal earned income credit amount is not a flat amount.  That credit is calculated on a bell curve, and is based on how much you earned by working, and by whether you have dependent children, and if so, by how many children -- up to three-- that you have.

 

Use the link already provided to you to see how much EIC you should be getting for the amount of income you earned in 2023.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
CatinaT1
Expert Alumni

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

This link should help you: Who Qualifies for the Earned Income Tax Credit (EITC) 

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I read that the earned income tax credit is supposed to be 600 why am i only getting 449

it varies based on earned income and the number of dependents. you can use this IRS tax tool to check Turbotax calculation

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant 

 

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