What’s New with the Earned Income Tax Credit?

The Earned Income Tax Credit (EITC) is a huge benefit to working people with low to moderate income, giving them a tax credit that filers sometimes overlook. With tax season now in full swing, there are also some new states now offering Earned Income Tax Credits.

This year, California will now offer its own state Earned Income Tax Credit, putting even more money back in to the pockets of Californians. The California Earned Income Tax Credit is worth up to $2,653 with three or more children and is calculated as a fixed percentage of the federal credit.

California joins 25 states and the District of Columbia who already offer state Earned Income Tax Credit that builds on the benefits of the Federal Earned Income Tax Credit.

TurboTax is up to date with the latest tax laws. To find out more about the Earned Income Tax Credit go to “Happy Earned Income Tax Credit Awareness Day! Are You Eligible?”