Tax Tip: Remember EITC

The IRS says many Missourians miss out on a chance for a tax refund each year because they don’t take a significant credit they’re eligible for.

People who have dependents and work but don’t meet a certain income threshold can qualify to get a tax credit from the Internal Revenue Service. Kate Lett-Deathe is with the IRS in Kansas City. She says last year, the earned income tax credit was worth more than $1.16 billion to more than 500,000 Missouri workers, an average credit of $2,260. The cut-off this year for married couples with three children is just over $50,000 a year for those filing jointly with three or more dependents. One out of every five eligible Missourians overlooks the EITC each year.