2015 Earned Income Tax credit (EITC) Chart

By | November 23, 2014

A range of economic research since the 1990s has found that the EITC for families with children has increased work, especially among single mothers. Together with the EITC expansion, these proposals will help reorient the tax code to reward work for low-wage workers while making sure that highly compensated professionals pay taxes on their incomes like everyone else. The 2015 EITC for a childless adult with wages at the projected poverty line ($12,566) would rise from $171 to $841. Taxpayers who are eligible should file for the 2015 earned income tax credit. It may be even possible to claim the 2015 earned income tax credit in a later tax year if a taxpayer refiles their old tax returns.


2015 Earned Income Credit (2015 EIC) Increase

This boost would more than cover a month’s worth of fair market rent for a one bedroom rental in most counties in the state. And for a childless adult working full time at the minimum wage, the credit would be a bit more modest and jump from $22 to $542. As one can see with the 2015 EITC Chart, the EITC is an effective program and will continue to be one in 2015 with the new EITC limits. Taxpayers must use the earned income credit 2015 will be something that many taxpayers are considered about for years to come.


2015 Earned Income Tax credit (2015 EITC) Chart

EITC Situation
No Children
With 1 Child
With 2 Children
With 3+ Children
1. Earned Income Amount
(minimum income earned required to claim credit)
$6,580 $9,880 $13,870 $13,870
2. Maximum Amount of Credit $503 $3,359 $5,548 $6,242
3. Phaseout Threshold Amount Begins
(for Single, SS, or Head of Household)
$8,240 $18,110 $18,110 $18,110
4. Phaseout Amount When Credit Ends
(for Single, SS, or Head of Household)
$14,820 $39,131 $44,454 $47,747
5. Threshold Phaseout Amount Begins
(for Married Filing Jointly)
$13,760 $23,630 $23,630 $23,630
6. Phaseout Amount When Credit Ends
(for Married Filing Jointly)
$20,340 $44,651 $49,974 $53,267

The table above will give an estimate for what families should expect for the 2015 EITC (Earned Income Tax Credit). Taxpayers can use this table to help fill out their 2015 tax return when they can in 2016. If taxpayers are using a tax preparer, this is a good way to check that you are getting the right amount of the earned income credit that is deserved.

Signed into law in 1975, the EITC was designed to offset regressive payroll taxes, reward hard work, and supplement low wages. Since the credit’s inception, presidents from both parties have strengthened it several times, and it is now one of the federal government’s largest and most effective anti-poverty programs. Millions and millions of Americans claim the credit each year.


2014 vs 2015 Earned Income Tax Credit

In tax year 2014 the maximum income for single head of households is $46,997, ($52,427 married filing jointly) for families with three or more qualifying children, and less for people with fewer or no children. The maximum credit is $6,143 with three or more qualifying children and less for those with fewer children.


State EITC Programs for 2015

Beginning in the mid-1980s, a number of states created local versions of the federal EITC to help offset state and local taxes for low-wage workers. Twenty-five states and the District of Columbia have created a state version of the EITC to supplement the federal credit and reduce the state and local tax burden on low- and moderate-income working families. In addition, local governments in Montgomery County, Md., San Francisco and New York City offer their own version of the EITC.

Almost all state EITCs are “refundable,” meaning that if the size of the family’s credit exceeds the amount of state income tax it owes, the family receives the difference in the form of a refund check. You can use the 2015 EITC Chart to verify how much you can potentially receive from this tax credit. The amount will change every year and it is essential to check the updated IRS EITC Chart to learn about the earned income credit for 2015.

The 2016 Earned Income Tax Credit is very similar. It will be important clarify how much credit you are entitled too in each year. There are often changes between tax years affecting the amount and who can claim the credit. Do not always depend on the amount of the credit being the same. It could go up or it could go down.


More Information about 2015 and 2016 Earned Income Tax credit (EITC)

Top State EITC Programs