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A Stimulus Boost for Some Earned Income Tax Filers

Updated for Tax Year 2019


OVERVIEW

Recent changes to the Earned Income Tax Credit (EITC) may put more money in your pocket in 2019 if you are married, or if you have three or more qualifying children.


For information and updates on the 2020 coronavirus stimulus package, or The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), click here.


 

Here are the latest changes that might benefit you:

  • More married couples now qualify for the maximum credit in 2019 because the income levels at which the credit completely phases out have been increased: $21,370 for married couples with no kids, and $46,884 for married couples with one qualifying child, $52,493 for married with two qualifying children, and $55,952 for married with three or more qualifying children. Since the squeeze on the size of the credit starts at higher income levels, married recipients will enjoy a slightly increased credit. And because income thresholds are indexed for inflation each year, it’s possible that still more married couples will qualify for the full credit in 2019.
  • Families with three or more qualifying children can qualify for a bigger tax credit. For 2019, those families can get a maximum credit of $6,557. As indexing continues to increase the threshold, families could receive an even larger maximum credit next year.

Get help in advance

When you file your 2019 tax return, TurboTax will decide for you whether you qualify for one of these increases. Keep in mind that the new law doesn’t change the basic rules that limit who can qualify for the Earned Income Credit. For example, you must be a U.S. citizen (and any qualifying children must also be U.S. citizens), have earned income, and for 2019 not receive more than $3,600 in interest or dividends from rentals, royalties or stock and other assets during the year.

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