Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Important Changes This Year

Taxes and Credits

Earned Income Credit (EIC)

For 2020, the maximum credit increased to:

  • $6,660 with three or more children
  • $5,920 with two children
  • $3,584 with one child
  • $538 with no children

To be eligible for a full or partial credit, the taxpayer must have earned income of at least $1 but less than:

  • $50,954 ($56,844 if Married Filing Jointly) with three or more qualifying children
  • $47,440 ($53,330 if Married Filing Jointly) with two qualifying children
  • $41,756 ($47,646 if Married Filing Jointly) with one qualifying child
  • $15,820 ($21,710 if Married Filing Jointly) with no qualifying child

Investment Income

Taxpayers whose investment income is more than $3,650 cannot claim the EIC.

Portion of the EIC table