The Tax Refund is a significant annual item in the United States. The IRS may soon send a $10,000 refund to many California citizens. It is true that not all Americans living in California are eligible to apply, but it is also true that the requirements can be met, so we must be aware of the situation.
If we are eligible for Tax Credits, we could receive a direct refund to our bank account through the IRS Tax Refund, allowing us to spend up to $10,000. However, California residents may not be the only ones who can benefit from the Tax Refund, as people from all over the country may be eligible.
Who gets $10,000 in the IRS Tax Refund?
To access the IRS Tax Refund, we must be eligible for two types of tax credits. In this sense, the Tax Credit in California may be higher because a specific one can grant a significant amount.
The two Tax Credits we are talking about are:
- Earned Income Tax Credit (EITC).
- California Earned Income Tax Credit (CalEITC).
If we are eligible for the maximum payment of both IRS Tax Credits, we could receive $10,000 or more soon. So, pay attention to the requirements to obtain them.
How to get the IRS EITC?
To obtain the Earned Income Tax Credit (EITC) we should keep in mind that there are several requirements. Thus, for it we must:
- Have a maximum income of $16,480 in the case of not having children.
- Have up to $44,492 maximum if we have only one child.
- Have an income of up to $53,057 in the case of having three or more children.
After meeting these requirements, we can apply for a tax credit of up to $8,046. As a result, it is also mandatory to send all required documentation to the IRS by April 18.
How to obtain the CalEITC from the IRS?
Although this is a different Tax Credit, we are discussing the same concept but only in California. Low-income Americans living in California can apply for the IRS’s Tax Credit.
The maximum amount of this Tax Credit is $3,644, resulting in a significant increase when combined with the other one.
Typically, if we can apply for the EITC, we can also apply for the CalEITC, but we should double-check our eligibility. In this case, you must have a maximum income of $31,950, plus care for a dependent child.
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