Payment approved | The IRS grants $8,231 and deposits it into the bank accounts of families that complete Form 1040 and meet these requirements

The Internal Revenue Service (IRS) confirmed that it will deposit up to $8,231 into the bank accounts of families that file Form 1040 and meet the requirements for the Earned Income Tax Credit (EITC) for tax year 2026. The amount represents the highest cap for the benefit in recent years.

The figure comes from the inflation adjustments that the IRS published in Revenue Procedure 2025-32, under the law known as One Big Beautiful Bill. The new values will apply to returns filed in 2027, corresponding to income earned during 2026.

How do you access the $8,231 with Form 1040?

The $8,231 amount is not a fixed payment for any family: it is the maximum cap of the EITC and applies only to households with three or more children that qualify under IRS rules. To access it, it is mandatory to file Form 1040 together with Schedule EIC.

In addition to the form, the IRS requires earned income (from employment or self-employment), a valid Social Security number before the filing deadline, and being a citizen or permanent resident throughout the entire tax year.

Main requirements to qualify

• Have earned income from your own work or self-employment.
• Have a valid Social Security number.
• Be a citizen or permanent resident for the entire year.
• Do not exceed $12,200 in investment income.
• File Form 1040 and Schedule EIC.

Which families receive the deposit in their bank accounts?

The amount each family receives varies according to the number of qualifying children and the household income level. For 2026, the IRS established the following maximums: $8,231 with three or more children, $7,316 with two children, $4,427 with one child, and $664 with no children.

Income limits also change depending on the family situation. A married couple with three or more children stops qualifying once gross adjusted income exceeds $70,224, while a single filer with the same number of children is excluded from the benefit starting at $62,974.

Other key facts about the credit

In some states, the benefit does not end with the federal amount. More than 30 states and the District of Columbia offer their own EITC, which is added to the federal one and equals a percentage of that amount according to local law.

The IRS also warns about a common error: when two people claim the same child as a dependent, the system detects the duplication and may delay or reject the credit for both parties. That is why verifying who claims each child is a key step before filing the return.