Tax Credits for Families
Learn about your issue
This Publication Is About the 2020 Tax Year. Many families will soon get advance payments of the 2021 Child Tax Credit. Get details on Advance Child Tax Credit Payments in 2021. Election to use 2019 earned income to figure 2020 additional child tax credit. Recent legislation provided an election to use your 2019 earned income to figure your 2020 additional child tax credit.
The Earned Income Tax Credit (EITC) helps low- to moderate-income workers and families get a tax break. If you qualify, you can use the credit to reduce the taxes you owe – and maybe increase your refund. You may claim the EITC if your income is low- to moderate. The amount of your credit may change if you have children, dependents, are disabled or meet other criteria. Military and clergy should review our Special EITC Rules because using this credit may affect other government benefits.
News for those who did not get the 2021 stimulus payment or the Advanced Child Tax Credit. People who do not have to file federal income tax forms can now get these 2021 payments without filing a tax return.