About one in five eligible filers overlook this credit, the IRS said. Certain filers can receive up to $7,830 more back in their refunds when claiming the credit.

Nearly 1 in 5 eligible taxpayers miss the earned income tax credit, which was worth an average of $2,743 in 2023, according to the IRS.

The federal Earned Income Tax Credit is designed for low to moderate-income wage earners and is fully refundable, meaning even those who do not earn enough money to have taxes withheld are eligible. The Internal Revenue Service is reminding tax filers about a key credit worth up to $7,830.

Tax filing season has begun. The Internal Revenue Service has information for people who are already filing their returns.