The Earned Income Tax Credit, or EITC, provides tax relief to millions of low- to moderate-income Americans, although the IRS estimates that one in five eligible taxpayers don’t claim it on their tax returns.
Established in 1975, the EITC originally provided a maximum credit amount of just $400. Today, taxpayers can receive a credit of up to $7,830 per year, depending on their income and how many children they have.
