Bend, OR – As Earned Income Tax Credit (EITC) Awareness Day approaches on January 31, the Oregon Department of Revenue is urging all workers with income in 2024 to check their eligibility for this valuable federal tax credit. The EITC, which has helped millions of Americans over the past 50 years, is set to celebrate its 50th anniversary in 2025.

Despite its widespread availability, the Oregon Department of Revenue reports that nearly 25 percent of eligible Oregon taxpayers fail to claim the EITC each year, leaving an estimated $100 million in unclaimed credits. To address this, the department has partnered with other state agencies and community organizations to encourage taxpayers to explore whether they qualify for the credit.

The Earned Income Tax Credit provides financial relief to individuals and families who earn low to moderate incomes. For the 2024 tax year, eligible families can receive a federal credit of up to $7,830, with an additional Oregon Earned Income Credit (EIC) of up to $940. The credit is refundable, meaning that if it exceeds the amount owed in taxes, the difference is refunded to the taxpayer.

“Many people are unaware of the EITC and its potential benefits,” said a spokesperson from the Oregon Department of Revenue. “We want to make sure all Oregonians know they may be eligible for this credit and understand how to claim it.”

EITC eligibility is based on income, family size, and filing status. For 2024, individuals and families making up to $66,819 may qualify, with the amount of the credit increasing for taxpayers with children. Importantly, even taxpayers without children may be eligible for the EITC. To claim the credit, taxpayers must file both federal and state tax returns, even if they are not required to file due to their income level.

In addition to the federal EITC, Oregon offers the Oregon Earned Income Credit (EIC), which mirrors the federal guidelines but extends eligibility to those who use an individual taxpayer identification number (ITIN) to file their taxes. For those with qualifying children, the Oregon Kids Credit offers additional support, providing up to $1,000 per child for families with low to moderate incomes.

For those looking to save for future education, the Oregon Department of Revenue also promotes the Education Savings Credit, which offers refundable credits for contributions to Oregon College Savings Plans and ABLE Savings Plans, designed for individuals with disabilities.

For many Oregonians, one of the biggest obstacles to claiming these credits is the complexity of filing taxes. To help alleviate this, free tax preparation assistance is available statewide. The Department of Revenue has partnered with local community organizations to provide no-cost support to taxpayers at various sites across the state. The department’s interactive map can help individuals locate the nearest free tax filing assistance.

Taxpayers who wish to learn more about the EITC and other state and federal credits can visit the IRS website or the Oregon Department of Revenue’s webpage. The IRS also offers an online tool, the EITC Assistant, which helps individuals determine if they qualify for the credit in both English and Spanish.

As EITC Awareness Day approaches, the Oregon Department of Revenue encourages all eligible taxpayers to take a moment to check their eligibility and claim the financial assistance they may deserve. For more information, taxpayers can call the Oregon Department of Revenue at 503-378-4988 or visit their website at www.oregon.gov/dor.

For those in need of free tax preparation services, the IRS and the Oregon Department of Revenue provide resources to ensure that every eligible worker can access the credits they’ve earned.