2025 is the 50th Anniversary of the EITC; One of the Most Valuable Tax Credits that One in Five Eligible Taxpayers Fail to Claim
JERSEY CITY, N.J., Jan. 31, 2025 -- Today is Earned Income Tax Credit (EITC) Awareness Day and Jackson Hewitt Tax Services® has teamed up with the IRS to remind taxpayers about this valuable tax credit that can reduce taxes owed and increase tax refunds. Taxpayers who qualify to claim the EITC could receive a credit of up to $7,830 in their tax refund. Earlier this week, on Monday, January 27, 2025, the IRS officially began accepting and processing 2024 Federal income tax returns. All Jackson Hewitt offices are open nationwide and ready to assist taxpayers to file their return before the Tax Day deadline of April 15, 2025. Consumers can easily book an appointment with Jackson Hewitt now to reserve a time to meet with a Tax Pro at their earliest convenience.
"Every year, the IRS estimates that millions of taxpayers unfortunately don't take advantage of claiming the Earned Income Tax Credit – about one in five. Sometimes it's because they had a significant life change and it was the first time they were eligible to claim the credit, but didn't realize it. This is why I always recommend that people who just got married or divorced, had or adopted children, or had a job change work with a tax professional. This will ensure that they are filing an accurate tax return and getting the biggest tax refund that's owed to them," said Mark Steber, Chief Tax Officer at Jackson Hewitt. "Our Tax Pros at Jackson Hewitt work closely with their clients to go through the previous year and talk about their finances, life changes, and more to guarantee they are claiming every credit and deduction they deserve."
To help taxpayers understand if they qualify for the EITC, Jackson Hewitt has created an online calculator. Clients can visit Jackson Hewitt's website to estimate what they may be eligible for: www.jacksonhewitt.com/tax-tools/tax-refund-calculators/earned-income-credit-calculator.
The amount a taxpayer receives from claiming the EITC is based on income, filing status, and family size. For tax year 2024, qualifying taxpayers could get up to:
- $632 with no children
- $4,213 with one child
- $6,960 with two children
- $7,830 with three or more children
The earned income requirements to claim the EITC are:
Number of Qualifying Children | Filing as single, head of household, married filing separately or widowed | Filing as married filing jointly |
No children | $18,591 | $25,511 |
One child | $49,084 | $56,004 |
Two children | $55,768 | $62,688 |
Three or more children | $59,899 | $66,819 |
This is the 50th anniversary of the EITC and the 19th annual EITC Awareness Day. Jackson Hewitt and the IRS are proud to continue spreading the word about this often-overlooked tax credit.
Taxpayers who claim the EITC on their 2024 tax return should note that they likely won't receive their tax refund until mid-to-late February. This is because, under Federal laws, the IRS needs to check these tax returns more carefully to avoid invalid claims.
For more information, visit jacksonhewitt.com. To find the nearest Jackson Hewitt office and book an appointment, visit jacksonhewitt.com/officelocator.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission to provide its hardworking clients with access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt is devoted to helping clients get ahead and stands behind its work with its Maximum Refund Guarantee and Lifetime Accuracy Guarantee® (restrictions apply, see Jackson Hewitt's website for more details). Jackson Hewitt has more than 5,200 franchise and company-owned locations nationwide, including 2,700 in Walmart stores, making it easy and convenient for clients to file their taxes. For more information about products, services, or offers, or to locate a Jackson Hewitt office, visit jacksonhewitt.com or call (800) 234-1040.
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