As of December 2024, nearly 23 million families had received about $64 billion from the Earned Income Tax Credit (EITC) since its inception in 1975. The credit is intended to help low- and moderate-income working families. Eligibility depends on adjusted gross income, filing status and the number of qualifying children. Under the proposed One, Big, Beautiful Bill, the EITC would be more difficult to claim, requiring the precertification of each qualifying child of a taxpayer claiming the credit. Bill opponents say the new rule would add an extra burden for eligible taxpayers trying to claim the credit, not to mention additional paperwork for the IRS. The Senate is now considering the bill.
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