Nearly one in five taxpayers does not apply for this "valuable credit," according to the IRS. “This is a lot of money” that millions of Americans are eligible for “and some just overlook it,” explains a government commissioner.
In 2022, about 23 million filers received $57 billion from the Earned Income Tax Credit (EITC), a tax relief for low- and moderate-income workers. For the 2023 tax year, the EITC reaches up to $7,430 for a family with three or more children.