Use this calculator to estimate your potential Earned Income Credit (EIC) for the 2023 tax year. The EIC is a refundable tax credit for low-to-moderate income working individuals and families. The amount of the credit depends on your income, filing status, and the number of qualifying children.
This includes wages, salaries, tips, and net earnings from self-employment.
Your AGI is generally your gross income minus certain deductions. For EIC, the lower of your earned income or AGI is often used.
Single, Head of Household, or Qualifying Widow(er)
Married Filing Jointly
0
1
2
3 or more
A qualifying child must meet relationship, age, residency, and joint return tests.
If you have no qualifying children, you must be at least 25 but under 65 at the end of the tax year.
This includes interest, dividends, capital gains, etc. Must be $11,000 or less for EIC eligibility.
// Function to toggle age input visibility
function toggleAgeInput() {
var numChildren = document.getElementById('numChildren').value;
var ageGroup = document.getElementById('ageGroup');
if (numChildren === '0') {
ageGroup.style.display = 'block';
} else {
ageGroup.style.display = 'none';
document.getElementById('age').value = "; // Clear age if not applicable
}
}
// Initial call to set correct visibility on page load
window.onload = toggleAgeInput;
function calculateEIC() {
var earnedIncome = parseFloat(document.getElementById('earnedIncome').value);
var agi = parseFloat(document.getElementById('agi').value);
var filingStatus = document.getElementById('filingStatus').value;
var numChildren = parseInt(document.getElementById('numChildren').value);
var investmentIncome = parseFloat(document.getElementById('investmentIncome').value);
var age = parseInt(document.getElementById('age').value); // Only relevant for 0 children
var resultDiv = document.getElementById('eicResult');
resultDiv.innerHTML = "; // Clear previous results
// — Input Validation —
if (isNaN(earnedIncome) || earnedIncome < 0 ||
isNaN(agi) || agi < 0 ||
isNaN(investmentIncome) || investmentIncome < 0) {
resultDiv.innerHTML = 'Please enter valid positive numbers for all income fields.';
return;
}
if (isNaN(numChildren) || numChildren 11000) {
resultDiv.innerHTML = 'Your investment income ($' + investmentIncome.toLocaleString() + ') exceeds the $11,000 limit for EIC eligibility. Your calculated EIC is $0.';
return;
}
if (earnedIncome === 0) {
resultDiv.innerHTML = 'You must have earned income to qualify for the EIC. Your calculated EIC is $0.';
return;
}
// Determine the comparison income (lower of earned income or AGI)
var comparisonIncome = Math.min(earnedIncome, agi);
// — EIC Parameters based on 2023 rules —
var maxCredit, creditPercentage, phaseOutThreshold, phaseOutPercentage, maxIncomeLimit;
if (numChildren === 0) {
if (isNaN(age) || age = 65) {
resultDiv.innerHTML = 'For those without qualifying children, you must be at least 25 but under 65 at the end of the tax year to qualify for EIC. Your calculated EIC is $0.';
return;
}
maxCredit = 600;
creditPercentage = 0.0765;
phaseOutPercentage = 0.0765;
if (filingStatus === 'MFJ') {
phaseOutThreshold = 17580;
maxIncomeLimit = 24210;
} else { // Single, HoH, QW
phaseOutThreshold = 10920;
maxIncomeLimit = 17640;
}
} else if (numChildren === 1) {
maxCredit = 3995;
creditPercentage = 0.34;
phaseOutPercentage = 0.1598;
if (filingStatus === 'MFJ') {
phaseOutThreshold = 28210;
maxIncomeLimit = 53120;
} else { // Single, HoH, QW
phaseOutThreshold = 21590;
maxIncomeLimit = 46560;
}
} else if (numChildren === 2) {
maxCredit = 6604;
creditPercentage = 0.40;
phaseOutPercentage = 0.2106;
if (filingStatus === 'MFJ') {
phaseOutThreshold = 28210;
maxIncomeLimit = 59470;
} else { // Single, HoH, QW
phaseOutThreshold = 21590;
maxIncomeLimit = 52930;
}
} else { // 3 or more children
maxCredit = 7430;
creditPercentage = 0.45;
phaseOutPercentage = 0.2106;
if (filingStatus === 'MFJ') {
phaseOutThreshold = 28210;
maxIncomeLimit = 63398;
} else { // Single, HoH, QW
phaseOutThreshold = 21590;
maxIncomeLimit = 56838;
}
}
// Check if income exceeds the maximum limit for any credit
if (comparisonIncome >= maxIncomeLimit) {
resultDiv.innerHTML = 'Your income exceeds the maximum limit for EIC eligibility for your filing status and number of children. Your calculated EIC is $0.';
return;
}
// — EIC Calculation —
var initialCredit = comparisonIncome * creditPercentage;
initialCredit = Math.min(initialCredit, maxCredit); // Cap at max credit
var finalCredit = initialCredit;
var phaseOutIncome = Math.max(agi, earnedIncome); // Use the higher of AGI or Earned Income for phase-out
if (phaseOutIncome > phaseOutThreshold) {
var excessIncome = phaseOutIncome – phaseOutThreshold;
var creditReduction = excessIncome * phaseOutPercentage;
finalCredit = initialCredit – creditReduction;
}
finalCredit = Math.max(0, finalCredit); // Ensure credit is not negative
resultDiv.innerHTML = 'Based on your inputs, your estimated Earned Income Credit (EIC) for 2023 is: $' + finalCredit.toFixed(2).toLocaleString() + '';
resultDiv.innerHTML += 'This calculation is an estimate based on 2023 tax rules and does not account for all specific tax situations. Consult a tax professional for personalized advice.';
}
.eic-calculator-container {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
background-color: #f9f9f9;
padding: 25px;
border-radius: 8px;
box-shadow: 0 2px 10px rgba(0, 0, 0, 0.1);
max-width: 700px;
margin: 20px auto;
border: 1px solid #e0e0e0;
}
.eic-calculator-container h2 {
color: #2c3e50;
text-align: center;
margin-bottom: 20px;
font-size: 1.8em;
}
.eic-calculator-container p {
color: #34495e;
line-height: 1.6;
margin-bottom: 15px;
}
.eic-input-group {
margin-bottom: 18px;
display: flex;
flex-direction: column;
}
.eic-input-group label {
font-weight: bold;
margin-bottom: 8px;
color: #34495e;
font-size: 1.05em;
}
.eic-input-group input[type="number"],
.eic-input-group select {
padding: 10px 12px;
border: 1px solid #ccc;
border-radius: 5px;
font-size: 1em;
color: #333;
width: 100%;
box-sizing: border-box;
transition: border-color 0.3s ease;
}
.eic-input-group input[type="number"]:focus,
.eic-input-group select:focus {
border-color: #007bff;
outline: none;
box-shadow: 0 0 5px rgba(0, 123, 255, 0.2);
}
.eic-input-group .input-help {
font-size: 0.85em;
color: #666;
margin-top: 5px;
margin-bottom: 0;
}
.eic-calculate-button {
display: block;
width: 100%;
padding: 12px 20px;
background-color: #28a745;
color: white;
border: none;
border-radius: 5px;
font-size: 1.1em;
font-weight: bold;
cursor: pointer;
transition: background-color 0.3s ease, transform 0.2s ease;
margin-top: 20px;
}
.eic-calculate-button:hover {
background-color: #218838;
transform: translateY(-1px);
}
.eic-calculate-button:active {
transform: translateY(0);
}
.eic-result {
margin-top: 25px;
padding: 15px;
background-color: #e9f7ef;
border: 1px solid #d4edda;
border-radius: 8px;
text-align: center;
font-size: 1.15em;
color: #155724;
font-weight: bold;
}
.eic-result p {
margin: 0;
padding: 0;
}
.eic-result .note {
font-size: 0.9em;
color: #38704a;
font-weight: normal;
margin-top: 10px;
}
.eic-result p strong {
color: #0056b3;
}
.eic-result p[style*="color:red"] {
color: #dc3545 !important;
font-weight: normal;
}
Understanding the Earned Income Credit (EIC)
The Earned Income Credit (EIC) is a valuable tax benefit designed to help low-to-moderate income working individuals and families. It's a refundable tax credit, meaning you could receive money back even if you don't owe any tax. The EIC aims to offset federal payroll and income taxes and provide financial support to those who need it most.
Who Qualifies for the EIC?
To qualify for the EIC, you must meet several requirements related to your income, filing status, and family situation. Here are the general criteria for the 2023 tax year:
Earned Income: You must have earned income from employment or self-employment. This includes wages, salaries, tips, and net earnings from self-employment. If your earned income is zero, you generally won't qualify.
Adjusted Gross Income (AGI) Limits: Your AGI must be below certain thresholds, which vary based on your filing status and the number of qualifying children.
Investment Income Limit: Your investment income (such as interest, dividends, capital gains, etc.) must be $11,000 or less for 2023.
Filing Status: You cannot use the "Married Filing Separately" status. You can claim EIC if you file as Single, Head of Household, Qualifying Widow(er), or Married Filing Jointly.
Residency: You must be a U.S. citizen or resident alien for the entire tax year.
Social Security Number (SSN): You, your spouse (if filing jointly), and any qualifying children must have valid SSNs issued by the Social Security Administration by the due date of your return (including extensions).
Qualifying Children Rules
The EIC amount is significantly higher for those with qualifying children. A child must meet all of the following tests to be considered a qualifying child for EIC purposes:
Relationship Test: The child must be your son, daughter, stepchild, foster child, brother, sister, half-brother, half-sister, stepbrother, stepsister, or a descendant of any of them (e.g., grandchild, niece, nephew).
Age Test: The child must be under age 19 at the end of the tax year, or under age 24 if a full-time student, or any age if permanently and totally disabled. The child must also be younger than you (or your spouse if filing jointly), unless disabled.
Residency Test: The child must have lived with you in the United States for more than half of the tax year.
Joint Return Test: The child cannot file a joint tax return for the year, unless the return is filed only to claim a refund of withheld income tax or estimated tax paid.
EIC for Those Without Qualifying Children
Even if you don't have qualifying children, you may still be eligible for a smaller EIC. To qualify without children, you must meet these additional criteria:
You must be at least 25 but under 65 at the end of the tax year.
You cannot be claimed as a dependent on someone else's tax return.
You cannot be a qualifying child of another person.
How the EIC is Calculated
The EIC calculation is based on a tiered system:
Phase-in: As your earned income increases from $1, the credit amount gradually rises.
Plateau: Once your earned income reaches a certain level, the credit amount reaches its maximum and stays there for a specific income range.
Phase-out: After your income surpasses a certain threshold, the credit begins to gradually decrease until it reaches zero.
The specific income thresholds and credit percentages depend on your filing status and the number of qualifying children you have. Our calculator uses the official 2023 IRS guidelines to provide an estimate.
Using the EIC Calculator
To use the calculator, simply enter your total earned income, adjusted gross income (AGI), select your filing status and the number of qualifying children. If you have no children, you'll also need to enter your age. Finally, input your total investment income. Click "Calculate EIC" to see your estimated credit.
Important Disclaimer
This calculator provides an estimate based on the 2023 tax year rules for the Earned Income Credit. It does not account for all individual tax situations, specific deductions, or other credits you may be eligible for. Tax laws are complex and can change. For accurate and personalized tax advice, please consult a qualified tax professional or refer to official IRS publications.