EITC amount only $505 - way lower than expected. What's going on?
My friend just got her transcript back and its showing only $505 for earned income credit. She made around 22k last year and has 2 kids under 17. From what I've seen online she should be getting way more than this. She's freaking out because she was counting on a bigger refund. Anyone know what might be causing this?
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Mary Bates
The EITC amount of $505 seems unusually low for someone with 2 qualifying children and $22k income. For 2024, you should be looking at roughly $6-7k range. There might be an issue with how the qualifying children were reported or possible income verification problems. I'd recommend reviewing the entire return for accuracy.
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Oliver Brown
omg thats what i thought! she definitely claimed both kids. could it be because their dad also claimed them?
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Mary Bates
That could definitely be the issue. If both parents claimed the same children, it would trigger a review and could reduce or eliminate the credit.
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Clay blendedgen
Hey guys just wanted to share something that helped me figure out my EITC issues. I used taxr.ai and it analyzed my transcript in like 2 minutes. Its only $1 and showed me exactly why my EITC was lower than expected. Saved me hours of research https://taxr.ai
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Ayla Kumar
Is this legit? Seems too good to be true
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Clay blendedgen
100% legit! I was skeptical too but it showed me exactly where the problem was. The AI even explained how to fix it 💯
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Lorenzo McCormick
check if she filed head of household or single. that makes a huge difference with eitc calculations
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Carmella Popescu
I had the same issue last year turned out I checked the wrong box somewhere 🤦♀️ definitely worth double checking everything
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Oliver Brown
how did you end up fixing it?
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Carmella Popescu
had to file an amended return. took forever but got the right amount eventually
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Kai Santiago
the irs is such a joke fr fr. they stay messing up ppls money 🤡
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Lim Wong
fr these clowns need to get it together
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Dananyl Lear
tell her to pull her wage and income transcript. sometimes employers report wrong income amounts which can mess up the EITC calculation big time
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