Use this calculator to estimate your potential Earned Income Tax Credit (EITC) for the 2023 tax year. The EITC is a refundable tax credit for low-to-moderate-income working individuals and families.
Single, Head of Household, or Qualifying Widow(er)
Married Filing Jointly
0
1
2
3 or more
Understanding the Earned Income Tax Credit (EITC)
The Earned Income Tax Credit (EITC) is one of the U.S. government's largest and most effective anti-poverty programs. It's a refundable tax credit, meaning that if the credit amount is more than the tax you owe, you could receive the difference back as a refund. This credit helps low-to-moderate-income working individuals and families.
Who is Eligible for EITC?
Eligibility for the EITC depends on several factors, including:
Earned Income: You must have earned income from employment or self-employment.
Adjusted Gross Income (AGI): Your AGI must be below certain thresholds, which vary based on your filing status and the number of qualifying children.
Filing Status: You cannot claim "Married Filing Separately." Most commonly, eligible filers are Single, Head of Household, Qualifying Widow(er), or Married Filing Jointly.
Qualifying Children: Having qualifying children can significantly increase the amount of your EITC. Rules for a child to qualify are specific (age, relationship, residency).
Investment Income: Your investment income must be below a certain limit (e.g., $11,000 for 2023).
Social Security Number: You, your spouse (if filing jointly), and any qualifying children must have valid Social Security Numbers.
How the EITC is Calculated (2023 Tax Year)
The EITC calculation is progressive, meaning it increases with earned income up to a certain point, then plateaus, and finally phases out as income continues to rise. The maximum credit amount and income thresholds are adjusted annually and vary significantly based on your filing status and the number of qualifying children.
Phase-in: As your earned income increases from zero, the credit amount grows at a specific percentage rate.
Plateau: Once your earned income reaches a certain level, the credit amount remains at its maximum for a range of income.
Phase-out: As your earned income (or AGI, whichever is higher for this stage) continues to increase beyond the plateau, the credit gradually decreases until it reaches zero.
Our calculator uses the 2023 tax year parameters to provide an estimate. Please note that tax laws can be complex, and this calculator provides an estimate only. For precise figures and to ensure you meet all eligibility requirements, always consult IRS Publication 596 or a qualified tax professional.
Important Considerations:
This calculator is for the 2023 tax year. EITC rules and amounts change annually.
"Earned Income" includes wages, salaries, tips, and net earnings from self-employment.
"Adjusted Gross Income (AGI)" is your gross income minus certain deductions.
"Investment Income" includes interest, dividends, capital gains, and certain other passive income.
The definition of a "qualifying child" is specific and includes age, relationship, residency, and joint return tests.
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function calculateEITC() {
var earnedIncome = parseFloat(document.getElementById("earnedIncome").value);
var agi = parseFloat(document.getElementById("agi").value);
var investmentIncome = parseFloat(document.getElementById("investmentIncome").value);
var filingStatus = document.getElementById("filingStatus").value;
var numChildren = parseInt(document.getElementById("numChildren").value);
var resultDiv = document.getElementById("eitcResult");
resultDiv.innerHTML = ""; // Clear previous results
// Input validation
if (isNaN(earnedIncome) || earnedIncome < 0 ||
isNaN(agi) || agi < 0 ||
isNaN(investmentIncome) || investmentIncome investmentIncomeLimit) {
resultDiv.innerHTML = "Your investment income exceeds the $" + investmentIncomeLimit.toLocaleString() + " limit for EITC eligibility in 2023. Estimated EITC: $0.";
return;
}
// Determine parameters based on filing status and number of children for 2023 tax year
if (numChildren === 0) {
maxCredit = 600;
creditRate = 0.0765;
phaseOutRate = 0.0765;
if (filingStatus === "single") { // Single, HoH, QW
phaseInMaxEarnedIncome = 7830;
phaseOutBegins = 9320;
maxIncomeLimit = 17640;
} else { // Married Filing Jointly
phaseInMaxEarnedIncome = 14400;
phaseOutBegins = 15890;
maxIncomeLimit = 24210;
}
} else if (numChildren === 1) {
maxCredit = 3995;
creditRate = 0.34;
phaseOutRate = 0.1598;
if (filingStatus === "single") {
phaseInMaxEarnedIncome = 11610;
phaseOutBegins = 21560;
maxIncomeLimit = 46560;
} else { // Married Filing Jointly
phaseInMaxEarnedIncome = 18170;
phaseOutBegins = 28120;
maxIncomeLimit = 53120;
}
} else if (numChildren === 2) {
maxCredit = 6604;
creditRate = 0.40;
phaseOutRate = 0.2106;
if (filingStatus === "single") {
phaseInMaxEarnedIncome = 16480;
phaseOutBegins = 21560;
maxIncomeLimit = 52918;
} else { // Married Filing Jointly
phaseInMaxEarnedIncome = 23040;
phaseOutBegins = 28120;
maxIncomeLimit = 59488;
}
} else { // 3 or more children
maxCredit = 7430;
creditRate = 0.45;
phaseOutRate = 0.2106;
if (filingStatus === "single") {
phaseInMaxEarnedIncome = 16480;
phaseOutBegins = 21560;
maxIncomeLimit = 56838;
} else { // Married Filing Jointly
phaseInMaxEarnedIncome = 23040;
phaseOutBegins = 28120;
maxIncomeLimit = 63698;
}
}
// Calculate credit based on earned income (phase-in and plateau)
var creditBasedOnEarnedIncome = 0;
if (earnedIncome phaseOutBegins) {
creditAfterPhaseOut = maxCredit – ((incomeForPhaseOut – phaseOutBegins) * phaseOutRate);
}
// The final EITC is the smaller of the credit based on earned income and the credit after phase-out.
eitc = Math.min(creditBasedOnEarnedIncome, creditAfterPhaseOut);
// Ensure EITC is not negative
eitc = Math.max(0, eitc);
// Final check against overall income limit
if (incomeForPhaseOut > maxIncomeLimit) {
eitc = 0;
}
resultDiv.innerHTML = "Based on your inputs for the 2023 tax year, your estimated Earned Income Tax Credit (EITC) is: $" + eitc.toFixed(2) + "";
resultDiv.innerHTML += "This is an estimate for the 2023 tax year. Actual credit may vary. Consult IRS Publication 596 or a tax professional for precise figures.";
}