#2020 irs income tax tables how to

To start claiming this credit you must have at least $1 of earned income, with line 2 showing the minimum amount of earned income required to get the maximum earned income tax credit. The maximum earned income credit allowed/payable for the given tax year is shown in line 1.

#2020 irs income tax tables how to

Get the latest money, tax and stimulus news directly in your inbox How the Earned Income Tax Credit Works and How to read EITC tables:

The EITC won’t be allowed if a taxpayer’s qualified investment income exceeds $11,000 in 2023. Income (AGI) Maximum When Credit Eligibility Ends (for Married Filing Jointly) Phaseout Threshold Amount Begins (for Married Filing Jointly)Ħ.

Income (AGI) Maximum When Credit Eligibility Ends (for Single, SS, or HoH)ĥ. Phaseout Threshold Amount Begins (for Single, SS, or HoH)Ĥ. Earned Income Base Amount required to get maximum creditģ. Max 2023 Earned Income Tax Credit AmountĢ. These are applicable for the 2023 tax year and used when filing returns in 2024. The inflation-adjusted 2023 EITC income threshold tables are shown below. 2018 Earned Income Tax Credit (for Returns Filed in 2019)Ģ023 EITC tables (for tax filings in 2024).2019 Earned Income Tax Credit (for Returns Filed in 2020).2020 Earned Income Tax Credit (EIC) Table.Using 2019 Income Levels for 20 EITC Eligibility (Look Back Provision).2021-2022 Earned Income Tax Credit ARPA Expansion.Filing a Tax Return with the Earned Income Tax Credit (EITC) and PATH Act.Final 2022 EITC tables (for 2023 tax filings).2023 EITC tables (for tax filings in 2024).