The earned income tax credit is intended to provide a tax benefit to low-to-moderate-income people and families. For the tax year 2020, a family with three or more children who file jointly qualifies if they earn $56,844. When taxpayers file their 2021 taxes in 2022, that amount will have increased to $57,414. The credit in 2021 (for 2020 taxes) ranges from $538 to $6,660, depending on how you file and how many dependents you have, and those amounts will increase to $1,502 to $6,728 when you submit your 2021 taxes.