This year marks the 50th anniversary of Earned Income Tax Credits providing a financial boost to working taxpayers.
“Earned Income Tax Credits put money in the pockets of working taxpayers,” said New York State Department of Taxation and Finance Acting Commissioner Amanda Hiller. “Eligible New Yorkers can get money back when they file their tax returns – even if they don’t owe tax.”
The Earned Income Tax Credit is a refundable credit for eligible taxpayers who earn less than $66,819. Taxpayers can get a refund if the credit amount is more than what they owe in taxes.
Earned Income Tax Credit amounts depend on a taxpayer’s income and number of children – and single New Yorkers can also qualify. Combined federal, New York State, and New York City Earned Income Tax Credits can be worth up to $12,528 for a family with three or more qualifying children.
Every year, many New Yorkers qualify for the Earned Income Tax Credit for the first time because of changes to their financial situation, filing status, or personal life. For New York State eligibility requirements, see the Tax Department’s Earned Income Credit (New York State) webpage: https://www.tax.ny.gov/pit/credits/earned_income_credit.htm. For federal qualifications, see the IRS Earned Income Tax Credit webpage: https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit-eitc.
Taxpayers must file tax returns to receive the credit. E-filing is the easiest and safest way to file tax returns, as well as the fastest way to receive tax refunds. Taxpayers who qualify for the Earned Income Tax Credit are also likely to be eligible for free tax filing options available through the Tax Department:
New York State Direct File is a free, easy-to-use e-file option for eligible taxpayers that can be accessed from a smartphone, laptop, tablet, or desktop computer.Taxpayers with 2024 wages less than $200,000 – or $250,000 if filing jointly – may qualify. For information and eligibility requirements, go to https://www.tax.ny.gov/pit/efile/direct-file/.
Taxpayers may be eligible to use Free File software to e-file federal and state income tax returns at no cost through the Tax Department website: https://www.tax.ny.gov/pit/efile/freefile.htm. Information about Free File is available in multiple languages.
Taxpayers who don’t qualify for Direct File or Free File may be eligible for other free filing options. Visit https://www.tax.ny.gov/pit/efile/other-efile-options.htm to learn more.
The Tax Department’s Taxpayer Assistance Program can help taxpayers who earn less than $84,000 to electronically prepare and file federal and state income tax returns at no cost.Tax Department representatives help guide taxpayers through free tax preparation software, step-by-step, as they complete and file their own tax returns.To register for a free session, go to https://www.tax.ny.gov/tap/.
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