The Individual Income Tax due date has changed from April 15 to May 17, 2021.
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South Carolina's Earned Income Tax Credit (EITC) increases in 2021, offering more money for low- to moderate-income working individuals or couples, particularly those who have children.
Nationally, the IRS estimates, 20% of eligible taxpayers do not claim the federal EITC. South Carolina's version of the federal EITC was adopted in 2018 and is being phased in over six years.
- For tax year 2019, eligible taxpayers can claim up to 41.67% of the federal credit.
- For tax year 2020, eligible taxpayers can claim up to 62.5% of the federal credit.
- For example: If your 2020 federal EITC is $1,000, your South Carolina EITC will total $625 this year.
By tax year 2023, South Carolina taxpayers will be able to claim 125% of the federal EITC. The EITC was claimed on more than 58,000 South Carolina returns for tax year 2019.
Tax Year
| Credit Amount
(% of federal EITC)
|
|---|
2018
| 20.83%
|
2019
| 41.67%
|
2020
|
62.50%
|
2021
| 83.33%
|
2022
| 104.17%
|
2023 and later
| 125%
|
To receive the credit: - You should first claim the EITC on your federal income tax returns. If you are not eligible for the federal credit, you cannot claim the state credit.
- To qualify for the federal credit, you must file as an individual or married filing jointly and be between the ages of 25 and 65 if you have no children. There also are income limits.
- You must be a full-year resident of South Carolina.
- Claim the credit when filing your South Carolina Individual Income Tax return online or by paper (TC-60).
Unlike the federal credit, the state credit is non-refundable. That means if you have no tax liability, you do not receive money from this credit.
To see if you qualify for the federal credit, use the
IRS eligibility tool.
Individual Income Tax filing season for tax year 2020
begins February 12. For more information on state tax credits, visit the SCDOR's website.
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