Earned Income Credit (EIC) Calculator
Use this calculator to determine if you qualify for the Earned Income Credit and if so, how much it might be worth.
How the earned income credit (eic) calculator works
It applies the EIC formula for your number of children: the credit phases in as a percentage of earned income up to a maximum, then phases out above an income threshold that is higher for joint filers.
Worked example: with earned income of $22,000 and qualifying children of 2, the earned income credit (eic) calculator shows estimated earned income credit of $6,511.
- Earned income
- $22,000
- Maximum credit
- $6,604
- Your estimated credit
- $6,511
- Credit is refundable
- Yes
The formula
Credit = min(max credit, income × phase-in rate), reduced by (income − phase-out start) × phase-out rate above the threshold.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the earned income credit (eic) calculator
What is the Earned Income Credit?
A refundable tax credit for low-to-moderate-income working people, larger for those with children. Being refundable, it can produce a refund even if you owe no tax.
How is the EIC calculated?
It rises with earned income up to a maximum, plateaus, then phases out as income climbs. The amounts depend on your number of qualifying children and filing status.
How accurate is this estimate?
It uses approximate recent-year parameters and earned income only. Actual eligibility also considers investment income limits and other rules — check the IRS EIC tables for the exact amount.
Is the Earned Income Credit (EIC) Calculator free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.