$2000 to $6935 Checks Up For Grabs For Millions: Who’s Eligible?
According to a research by The Center on Budget and Policy Priorities, two million military families are eligible for either the child tax credit or the earned income tax credit.
According to Karyn Campbell, senior general manager of Jackson Hewitt Tax Service, one out of every four military families are eligible for the earned income credit and child tax credits.
People and families in those groups could have gotten a number of important tax breaks, but they didn't get them because they didn't file a 2021 federal income tax return.
"For the earned income credit, they could actually qualify for almost $7,000," Campbell said. KWTX is a news outlet located in central Texas.
The Earned Income Tax Credit is designed to help taxpayers with low incomes in general.
To be eligible, you must make less than $57,414 per year to qualify, according to the IRS.
And for the year 2020, the government estimated that around 60 billion dollars' worth of ETIC benefits were distributed to 25 million workers.
In 2022, single filers can qualify for the maximum CTC of $2,000 per kid if their income is less than $200,000 per year. Joint filers can get full credit if their income is less than $400,000.
The amount differs from 2021 since the temporary tax credit increase of $3,600 expires. By filing tax returns, the tax credits can be claimed.
However, the 2022 tax credits cannot be claimed until early 2023. Meanwhile, until
Tuesday, November 15
, low-income households have access to a tool.
The tool lets eligible persons claim the maximum $3,600 CTC, third federal stimulus checks, and EITC. The portal requires no tax paperwork and is free.