Earned Income Tax Credit (EITC) vs Child Tax Credit
Compare Earned Income Tax Credit (EITC) and Child Tax Credit: eligibility requirements, benefit values, and which one is right for you.
Earned Income Tax Credit (EITC)
A refundable tax credit for working individuals and families with low to moderate income.
Child Tax Credit
Up to $2,000 per qualifying child to reduce your tax bill.
Key Differences
| Aspect | Earned Income Tax Credit (EITC) | Child Tax Credit |
|---|---|---|
| Category | Tax Credits | Tax Credits |
| Value Range | $632-$7,830/yr | $1,500-$6,000/yr |
| Income Limit | 350% FPL | 600% FPL |
| Processing Time | 14-21 days | 14-21 days |
| Renewal | Every 12 months | Every 12 months |
| Agency | Internal Revenue Service | Internal Revenue Service |
Can You Get Both?
Yes — Earned Income Tax Credit (EITC) and Child Tax Credit are independent programs. You can receive both if you meet the eligibility requirements for each. Many families benefit from multiple programs simultaneously.
FAQ
What is the difference between Earned Income Tax Credit (EITC) and Child Tax Credit?
Earned Income Tax Credit (EITC): A refundable tax credit for working individuals and families with low to moderate income. Child Tax Credit: Up to $2,000 per qualifying child to reduce your tax bill. They serve different purposes and have different eligibility requirements.
Can I get both Earned Income Tax Credit (EITC) and Child Tax Credit?
Yes, you may be eligible for both programs simultaneously if you meet the requirements for each.
Which is worth more?
Earned Income Tax Credit (EITC) is worth $632-$7,830/year. Child Tax Credit is worth $1,500-$6,000/year.