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alrih
New Member

I received earned income credit in 2022, why not in 2023?

 
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3 Replies
Hal_Al
Level 15

I received earned income credit in 2022, why not in 2023?

Q. I received earned income credit on my  2021 tax return, why not for 2022?

A. Special one time, covid inspired, rules were in affect for 2021. 2022 is back to normal. 

 

The earned income credit is first calculated (actually looked up in a table) on your earned income then it is calculated on your total income (AGI). You get the lesser of the two calculated EIC numbers. See the 2022 EIC table at:

https://www.irs.gov/instructions/i1040tt#idm140702909059168

I received earned income credit in 2022, why not in 2023?

The tax code for 2022 reverted back to the original code prior to tax year 2021.

 

For tax year 2022 if you are Single, have no dependents and under the age of 25 you are not eligible for EIC.

MinhT1
Expert Alumni

I received earned income credit in 2022, why not in 2023?

It is not possible to usefully answer your question without looking at your tax returns for both years.

 

The Earned Income credit depends on your earned income and AGI and the number of your dependents.

 

One of the possible reasons would be that an increase in your 2022 income has phased you out of the Earned income credit.

 

Please read this TurboTax Help article on the qualifications for the EIC.

 

Also, the tax code has changed from the more favorable dispositions in the COVID years 2020 and 2021 and reverted to the old rules.

 

Please read this IRS document for more information.

 

 

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