Americans to get extra little-known payments up to $8,046 – but you must meet six criteria to score the cash

SELECT Americans could be getting thousands of dollars soon through a little-known payment.

Those who qualify must also meet a few crucial criteria before the money is accessible.

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Getty

Tax season officially started on January 27, 2025, as the Internal Revenue Service (IRS) began accepting and processing returns for the 2024 tax year, per a news release .

Millions of Americans have already filed, with over 140 million expected by the IRS before the federal deadline of April 15.

While some are hoping for a generous refund this season, there may be a way to get extra cash thanks to the Earned Income Tax Credit (EITC).

The EITC benefits those Americans who are either single filers or have families and record low to moderate income.

Amounts distributed through the credit will depend on six basic qualifying rules and other factors, per the IRS website .

ELIGIBILITY

Those who qualify must first and foremost have adjusted gross income (AGI) below a certain threshold.

A chart provided by the IRS notes that single taxpayers with zero dependents would record a maximum income of $18,591 for the 2024 tax year.

For one dependent, it’s $49,084, two is $55,768, and three is $59,899.

Married Americans filing jointly must make no more than $25,511 with zero dependents, $56,004 with one, $62,688 with two, and $66,819 with three.

Secondly, they would have an investment income below a limit set by the IRS.

The limit for the 2024 tax year is $11,600 or less.

They must also have a valid Social Security number and have been a U.S. citizen or resident alien for the entirety of the 2024 tax year.

A Foreign Earned Income through Form 2555 must’ve also not been filed.

Lastly, certain rules must be met if the filer gets separated from their spouse and is not filing a joint tax return.

Earned Income Tax Credit

Certain Americans can qualify for the Earned Income Tax Credit (EITC) when filing their tax returns. Below is the list of basic qualifications:

• Have earned income below a certain threshold
• Have investment income below a set limit by the IRS
• Have a valid Social Security number by the due date of tax return
• Be a U.S. citizen or a resident alien for the entire year
• Have not filed Form 2555, Foreign Earned Income
• Meet certain rules if separated from spouse and not filing a joint tax return

Credit: IRS

Those taxpayers serving in the military , clergy, or who have relatives with disabilities also have special EITC rules .

More information can be found on the IRS website, and a Qualification Assistant can help anyone figure out if they’re eligible for the credit.

SHOW ME THE MONEY

Those who are eligible for EITC could get up to $8,046.

That’s an increase of $216 from $7,830 last tax season.

It’s important to remember that the EITC is a credit, so it will be applied to any outstanding taxes owed first.

After there is no more left owed, the credit could then potentially increase the refund taxpayers get afterward.

Another payment worth up to $2,000 could help parents this year.

A new Social Security rule has also forced millions of Americans to wait “more than a year” for higher payments .